ADAUSDT - New developments to the correction trend
Sometimes it pretty much baffles me how inpredictable the price for an asset really becomes. You can barely apply fundamental analysis: it would only define the security of your investment (by market cap) and the speed of your reaction (the time to produce one block). Thus this market deprives its participants of instruments to plan for future investments and it, for the most part, depresses my friend, with whom we got into the crypto speculations together. Furthermore it frustrates me as my prognoses do not fullfill themselves in their entirety.
We still remain in the downward parallel channel, that's at least something. It wouldn't be broken up untill $1.15 or $0.95. The market still doesn't have steam to either moon or bust itself. The yesterday's dwo divergences have pointed out a new temporary trend of a falling wedge. It was also augmented and once more confirmed this night and morning (GMT).
We have a flat support at $1 and a falling resistance from $1.06 to $1.05 awaiting for further confirmation this evening. At the time of writing you still can earn up to 14% on the price dynamics in that pattern (from the onset it's 25% but the damn probabilities...) The price before entering the wedge was falling and by a convention of technical analysis (read "having consulted with Investopedia") the price is due to be falling further along, probably towards the main channel's support pointed out in my previous idea. Also comforting to this prediction is the nearing of the triangle's pinnacle to the cycle's end.
The cycle has been found out at the start of the February run as the price for ADA skyrocketed and set up the middle trendline where the price would usually linger when it's not crashing or mooning. It usually lasts 800 chart bars (8 and 1/3 days). The ends of the cycle ususally signified a sharp fall in price towards the support line of the previously prevailing trend. Nowadays the cycle still serves its purpose 'cause during this downtrend the price had fallen sharply twice already, which leaves much hope for one more time.
So for the near 5 days it is: trade the wedge untill it becomes inappropiate to use it (the difference is less than $0.02) and then wait for the final touchdown at the main support at $0.94
These have been observations of a rookie trader. You reaction is your problem
We still remain in the downward parallel channel, that's at least something. It wouldn't be broken up untill $1.15 or $0.95. The market still doesn't have steam to either moon or bust itself. The yesterday's dwo divergences have pointed out a new temporary trend of a falling wedge. It was also augmented and once more confirmed this night and morning (GMT).
We have a flat support at $1 and a falling resistance from $1.06 to $1.05 awaiting for further confirmation this evening. At the time of writing you still can earn up to 14% on the price dynamics in that pattern (from the onset it's 25% but the damn probabilities...) The price before entering the wedge was falling and by a convention of technical analysis (read "having consulted with Investopedia") the price is due to be falling further along, probably towards the main channel's support pointed out in my previous idea. Also comforting to this prediction is the nearing of the triangle's pinnacle to the cycle's end.
The cycle has been found out at the start of the February run as the price for ADA skyrocketed and set up the middle trendline where the price would usually linger when it's not crashing or mooning. It usually lasts 800 chart bars (8 and 1/3 days). The ends of the cycle ususally signified a sharp fall in price towards the support line of the previously prevailing trend. Nowadays the cycle still serves its purpose 'cause during this downtrend the price had fallen sharply twice already, which leaves much hope for one more time.
So for the near 5 days it is: trade the wedge untill it becomes inappropiate to use it (the difference is less than $0.02) and then wait for the final touchdown at the main support at $0.94
These have been observations of a rookie trader. You reaction is your problem
Order cancelled:
We have/d a breakthrough
