ADAUSDT: Potential for $3.21 to $3.44 by May 1, 2021
Hi Everyone! We have a "chance" for a significant move during this period of upward pressure potentially building up in the Near Term Group of Time Frames. I'm anticipating higher lows and higher highs in each wave of our 6h time frame up until around May 1, 2021 if this upward pressure can result in a significant move up in the price action. This is a labeled a "LONG" position for the Near Term. NOT for Scalping group of time frames.
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A look at the Blue LSMA crossing ABOVE level 50 and "closing" ABOVE Level 56 in the 2-Day time frame:
A look at the Blue LSMA crossing ABOVE level 50 and "closing" ABOVE Level 56 in the 2-Day time frame:
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Simply providing an update of the 2-Day Time Frame for future reference. The Blue LSMA is inching ever closer to Level 56 in this 2-Day Time Frame. The Bollinger Bands "appear" to continue with their "expansion" (opening up). However, we are still unsure "how much" expansion we are going to see. If we are to see maximum expansion, I'm anticipating around the $3.21 to $3.44 price range.
It's IMPORTANT to remember there is no guarantee the price action will go up "significantly" during a period of upward pressure. We would normally say, "Upward at best; sideways at worst." Which would mean we do not see as much "chance" for a "significant" move to the downside yet. We could simply range sideways between $1.20 and $1.50 until we see we confirmation of going back up "significantly" in the 9-Day time frame. However, the price may have already gone up a bit by the time you get that confirmation in the 9-Day time frame. Which means we must pick and choose our spots for accumulation or re-accumulation.
How would we pick or choose our "spots" for re-accumulation during a long term bull trend. I prefer to plot a Fibonacci Re-Trace on the chart to see my 0.236, 0.382, 0.5, 0.618 and 0.786. Once the Fib Re-Trace is plotted on the chart, we have to make a "conservative" TRADING decision the "first" pullback during a "long term" bull trend based on our ANALYTICAL decisions and/or determinations.
I reasoned the 0.382 FIB Re-Trace would be the "safest" (Most "conservative") price point to place the MAJORITY of my buy orders for the purpose of "Re-Accumulating." While placing the smallest percentage of my capital at other Fib Re-Trace Levels. Why? We should NEVER "assume" each pullback during a "long term" bull trend will pull back to the 0.5 and/or 0.618 Fib Re-Trace; as though it is fore ordained to do so. The demand in the market may be so dominant over the supply that we don't see a pullback with a 3-Day candle "closing" below the 0.382 Fib Re-Trace Level. The price action won't even fall significantly below the 0.382 to the 0.5 Fib Re-Trace Level. It appears to simply be ranging sideways between the 0.0 and 0.382 Fib Re-Trace Levels for a longer period of time for the purpose of re-accumulation.
If the 0.382 Fib Re-Trace Level manages to hold before legging up, we must make note of this for "future" pullbacks during this "long term" bull trend. Will this mean all future pullbacks will only go to the 0.382 Fib Re-Trace Level? No, I simply think it's wise not to get to greedy during re-accumulation; by assuming the price "must" fall significantly below the 0.382. I would prefer to put the majority of my capital in buy orders around the 0.382 with a less percentage scattered around other Fib Re-Trace Levels to ensure I do not miss out on my accumulation. If other buy orders at "lower" Fib Re-Trace Levels get filled, I simply look at them as a bonus. Because I may not get that bonus and be forced to FOMO back in with my remaining capital by canceling all buy orders below the 0.382 Fib Re-Trace Level and placing buy orders above the 0.382.
Simply providing an update of the 2-Day Time Frame for future reference. The Blue LSMA is inching ever closer to Level 56 in this 2-Day Time Frame. The Bollinger Bands "appear" to continue with their "expansion" (opening up). However, we are still unsure "how much" expansion we are going to see. If we are to see maximum expansion, I'm anticipating around the $3.21 to $3.44 price range.
It's IMPORTANT to remember there is no guarantee the price action will go up "significantly" during a period of upward pressure. We would normally say, "Upward at best; sideways at worst." Which would mean we do not see as much "chance" for a "significant" move to the downside yet. We could simply range sideways between $1.20 and $1.50 until we see we confirmation of going back up "significantly" in the 9-Day time frame. However, the price may have already gone up a bit by the time you get that confirmation in the 9-Day time frame. Which means we must pick and choose our spots for accumulation or re-accumulation.
How would we pick or choose our "spots" for re-accumulation during a long term bull trend. I prefer to plot a Fibonacci Re-Trace on the chart to see my 0.236, 0.382, 0.5, 0.618 and 0.786. Once the Fib Re-Trace is plotted on the chart, we have to make a "conservative" TRADING decision the "first" pullback during a "long term" bull trend based on our ANALYTICAL decisions and/or determinations.
I reasoned the 0.382 FIB Re-Trace would be the "safest" (Most "conservative") price point to place the MAJORITY of my buy orders for the purpose of "Re-Accumulating." While placing the smallest percentage of my capital at other Fib Re-Trace Levels. Why? We should NEVER "assume" each pullback during a "long term" bull trend will pull back to the 0.5 and/or 0.618 Fib Re-Trace; as though it is fore ordained to do so. The demand in the market may be so dominant over the supply that we don't see a pullback with a 3-Day candle "closing" below the 0.382 Fib Re-Trace Level. The price action won't even fall significantly below the 0.382 to the 0.5 Fib Re-Trace Level. It appears to simply be ranging sideways between the 0.0 and 0.382 Fib Re-Trace Levels for a longer period of time for the purpose of re-accumulation.
If the 0.382 Fib Re-Trace Level manages to hold before legging up, we must make note of this for "future" pullbacks during this "long term" bull trend. Will this mean all future pullbacks will only go to the 0.382 Fib Re-Trace Level? No, I simply think it's wise not to get to greedy during re-accumulation; by assuming the price "must" fall significantly below the 0.382. I would prefer to put the majority of my capital in buy orders around the 0.382 with a less percentage scattered around other Fib Re-Trace Levels to ensure I do not miss out on my accumulation. If other buy orders at "lower" Fib Re-Trace Levels get filled, I simply look at them as a bonus. Because I may not get that bonus and be forced to FOMO back in with my remaining capital by canceling all buy orders below the 0.382 Fib Re-Trace Level and placing buy orders above the 0.382.
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Here is the 12 hour to show you the Fib Re-Trace price levels. If I managed to sell between $1.44 and $1.38 early on before the pullback and placed the bulk of my buy orders at the 0.382, I would be very happy with the gains in my Cardano holdings at this point. The same goes for BTCUSD on its pullback.
Here are those Fib Re-Trace Levels:
Here is the 12 hour to show you the Fib Re-Trace price levels. If I managed to sell between $1.44 and $1.38 early on before the pullback and placed the bulk of my buy orders at the 0.382, I would be very happy with the gains in my Cardano holdings at this point. The same goes for BTCUSD on its pullback.
Here are those Fib Re-Trace Levels:
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In case you are wondering what I'm referring to when I say, "Long Term bull trend," I'm referring to Phase D and Phase E of a Wyckoff Accumulation Cycle. We have several Wyckoff Accumulation Cycles in this chart below for BTC. Remember, Phase D and Phase E is our period of "Long Term Bull Trend." In which we anticipate our pullbacks in our Fib Re-Trace to fall to the 0.382 at a minimum majority of the time. Yes, we can see a pullback to lower Fib Re-Trace Levels. However, during the current political, geopolitical, financial and economic climate, I'm not surprised to see the 0.382 hold so strong compared to previous Long Term Bull Trends.
In case you are wondering what I'm referring to when I say, "Long Term bull trend," I'm referring to Phase D and Phase E of a Wyckoff Accumulation Cycle. We have several Wyckoff Accumulation Cycles in this chart below for BTC. Remember, Phase D and Phase E is our period of "Long Term Bull Trend." In which we anticipate our pullbacks in our Fib Re-Trace to fall to the 0.382 at a minimum majority of the time. Yes, we can see a pullback to lower Fib Re-Trace Levels. However, during the current political, geopolitical, financial and economic climate, I'm not surprised to see the 0.382 hold so strong compared to previous Long Term Bull Trends.
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9-Day Time Frame:
9-Day Time Frame:
Pardon the audio being terrible. I'm using the bare minimum in this publication with hardware while doing a MAJOR hardware upgrade in my office.