ADA: On Verge of Transitioning From Phase D to E with SOW Event
Hi Everyone! Cardano (ADA) appears to be on the verge of transitioning from Phase D into Phase E with a "Sign of Weakness" event in RE-Distribution. Our MAJOR Distribution occurred in 2021 and 2022 and MACRO Accumulation began in early 2023. However, since we had an EXPONENTIAL Automatic Rally in Phase A of MACRO Accumulation; we are likely to see a period of RE-Distribution during this MACRO Accumulation. Well, this appears to be the case; when looking at the indicators.
Look at the 3-Week (Top Left of Center) and 4-Week (Top Right of Center) for ADAUSDT. We see the Red and Blue Lines both falling and below level 50 while falling. We also see the White Energy and Green Line falling and below level 50 while falling. This means we have increased odds (probability) of the B-Bands expanding; with high probability of price action falling "with" this expansion. I refer to this as "Expansion Down."
The chart below is the Near Term Group (12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week) for ADABTC (ADA/Bitcoin). NOTE: The Red and Blue Lines in the entire Near Term Group is about to have the Red and Blue Lines below Yellow Level 50 for Phoenix Ascending indicator. The 3-Day time frame (Bottom Right Corner) is the only time frame in this group in which the Red and Blue Lines are "not" below Yellow Level 50. However, we could see them fall below Yellow Level 50 the "next" 3-Day candle; which begins 10 hours and 45 minutes from this writing.
If we see this transition from Phase D into Phase E with a Sign of Weakness event in RE-Distribution, the price action could fall down to a level between $0.20 cents and $0.1725 cents. However, it can fall lower.
Look at the 3-Week (Top Left of Center) and 4-Week (Top Right of Center) for ADAUSDT. We see the Red and Blue Lines both falling and below level 50 while falling. We also see the White Energy and Green Line falling and below level 50 while falling. This means we have increased odds (probability) of the B-Bands expanding; with high probability of price action falling "with" this expansion. I refer to this as "Expansion Down."
The chart below is the Near Term Group (12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week) for ADABTC (ADA/Bitcoin). NOTE: The Red and Blue Lines in the entire Near Term Group is about to have the Red and Blue Lines below Yellow Level 50 for Phoenix Ascending indicator. The 3-Day time frame (Bottom Right Corner) is the only time frame in this group in which the Red and Blue Lines are "not" below Yellow Level 50. However, we could see them fall below Yellow Level 50 the "next" 3-Day candle; which begins 10 hours and 45 minutes from this writing.
If we see this transition from Phase D into Phase E with a Sign of Weakness event in RE-Distribution, the price action could fall down to a level between $0.20 cents and $0.1725 cents. However, it can fall lower.
Comment:
Comment:
UPDATE:
ADA: Simply pointing out Cardano still has a lot to overcome when looking at the Super Macro Group of time frames (2-Week, 3-Week, 4-Week, 5-Week, 6-Week, 8-Week, 10-Week & 12-Week):
ADA: Simply pointing out Cardano still has a lot to overcome when looking at the Super Macro Group of time frames (2-Week, 3-Week, 4-Week, 5-Week, 6-Week, 8-Week, 10-Week & 12-Week):
Comment:
UPDATE:
Cardano still having a rough time "closing" ABOVE the Yellow DESCENDING Trend Line.
Cardano still having a rough time "closing" ABOVE the Yellow DESCENDING Trend Line.
Comment:
UPDATE:
I added "Ascending Diagonal Trend Lines" to this chart; which already had "Descending Diagonal Trend Lines." This prompted me to add a couple of price points where Diagonal Ascending and Diagonal Descending Lines "intersect." I also added a Blue Text Bubble:
BLUE TEXT BUBBLE:
This Blue "Ascending" Diagonal Support/Resistance
Line has "historical" significance. Yes, it's possible
to continue down further. If we do continue down to
lower levels, that would be our "Spring" event in our
MACRO Accumulation Phase C.
You see a $0.2047 price point where White Descending
and Blue Ascending Diagonal Trend Lines meet. Going
down to that price point would qualify as a "Spring" event.
Yes, it's possible to continue down further to a $0.1663
price point close to where the Purple Descending and
Yellow Ascending Line has been drawn.
I added "Ascending Diagonal Trend Lines" to this chart; which already had "Descending Diagonal Trend Lines." This prompted me to add a couple of price points where Diagonal Ascending and Diagonal Descending Lines "intersect." I also added a Blue Text Bubble:
BLUE TEXT BUBBLE:
This Blue "Ascending" Diagonal Support/Resistance
Line has "historical" significance. Yes, it's possible
to continue down further. If we do continue down to
lower levels, that would be our "Spring" event in our
MACRO Accumulation Phase C.
You see a $0.2047 price point where White Descending
and Blue Ascending Diagonal Trend Lines meet. Going
down to that price point would qualify as a "Spring" event.
Yes, it's possible to continue down further to a $0.1663
price point close to where the Purple Descending and
Yellow Ascending Line has been drawn.
Comment:
UPDATE:
I forgot to edit the color of a diagonal trend line from white TO yellow; in order to line up with what is written in the Blue Text Bubble:
I forgot to edit the color of a diagonal trend line from white TO yellow; in order to line up with what is written in the Blue Text Bubble:
Comment:
ADA (Cardano) WYCKOFF 2.0 CHART UPDATE:
I set the "coordinates" of this ASCENDING pitchfork to be on the
"close" of the Red Candle here at the bottom and the "close" of
the Green Candle at the top.
I set the "coordinates" of this ASCENDING pitchfork to be on the
"close" of the Red Candle here at the bottom and the "close" of
the Green Candle at the top.