After the flash crash this week, we are seeing orders collecting at a predefinded demand zone. Should the price continue upwards from this zone, we will likely see resistance at the previous supply zones and, therefore, potential consolidation around these price points before the market decides the new direction. We should pay attention to the sentiment of Bitcoin...
This is the yearly chart with 4h candles. Very quickly I noticed a few significant pumps followed by a descending curve. Even the latest big correction we had has followed this pattern to a certain degree.
Basically, the price pumps around 40% on average and then starts slowly falling again. I noticed that all of those curves have three significant lows...
ADABUSD 1D Wyckoff Distribution Schematic #1
I have been waiting for a loooong period for this time!
Cardano is looking incredibly strong and after a long consolidation period we can see a very strong push towards a new ATH.
My current idea is that Cardano is currently in Phase C of the Wyckoff distribution schematic #1 executing the UTAD test . You can...
Interesting to see how many whale dumps there were trying to pull the price down, but ADA refuses to let go!
Look at the green dots showing the bounces from the bottom.
Share your thoughts below or hit a like of you think ADA will reach 2 USD by end of April!
This is not advice, only my crazy speculation.
Thanks for your time.
Wyckoff Analysis - ADABUSD 1H
Current trend still shows accumulation trend albeit it is not as clear as usual.
My thoughts on the root causes:
- a re-accumulation is occurring which is not as evident and inherently shows mixed signals
- it is shadowing BTC causing to spike up or down
If signal is correct, we are heading for sideways movement into a strong...
Thanks for your likes and comment! Really appreciate!
Stay optimist on this project but beware, everything is possible as competitors are working hard and it is up to the crowd to support on or another.
Cardano ADA price has decreased after a huge run in the long direction.