BTC Volume is growing exponentially, we have a clear V shaped bottom, many alt coins will die, BTC will suck up more and more of the investments that flow into crypto, institutions will favor BTC (they are already now), only the best of the best alt-coin projects and especially those projects that are already completely financed will prevail. Let the Great Culling...
I've used Fib Circles, Pitchforks and hypothetical pricelines to give you an idea how the price of BTC could develop long term. It could also totally NOT play out this way and for example go down from here and never move up again... just saying, one never knows... the only thing that is predictable with BTC is that it's unpredictable. Enjoy, comment, let me know...
ADA - Cardano - Moved out of it's down channel and has shot through the 50.0 Fibonacci level with massive volume, broken above the 61.8 Fibonacci level and stayed over the 50 day Exponential Moving Average. To move even higher, we need :
- Increasing or stable but high volume on up bars that don't close in the middle
- Decreasing or stable but low volume on down...
There is now selling pressure, even though we had the recent dip, on a monthly view you get the big picture. We're soon going to have the seasonal end of year rally ! :-) BULLS go for it, like in Pamplona!
Look at the last 3 bars. Decreasing Volume on down bars, means selling pressure is drying up. It might become a test in a rising market, if one of the next few bars is a LVDBCMH (Low volume down bar closing in the middle or high), prices are going to continue higher in the very near future. We should get the LVDBCMH the latest around the 78.6% level. If it breaks...
Hi my friends, this is a mediocre attempt at Elliot wave theory, forgive me if I screwed up :-)... but... I think we're going to see fireworks soon, most of the time in a any triangle formation, at around 80% of the accomplished distance, there is a big move happening. A little more to go, hopefully to the upside on increasing volume. Massively, exponentially,...
The BTC Historical Volatility Index is hitting lows, even though we have no data from the previous years, the lower the volatility the more it will explode at some point. The question is : Up or down ? :-)
ADA Cardano is about to make a big move, hopefully to the upside, my guess is it will not take longer than a month to see a big correction, either up or down, up is more likely, giving the drying up of selling pressure.
Moment of truth approaching, if we cannot get above the 38.2 fibonacci, then, may Buddha, God, Allah and Steve Austin help us ! :-) But hey... let's see this from a positive side: You'll get them still WAAAAAAAYYYYY cheaper ! Hodl-up !!! Hodl-up!
Good luck guys, we'll need it !
Massive accumulation. Cardano is a game-changer, a juggernaut, a berzerker, it will revolutionize the financial system. Proof of stake = low energy consumption. Haskell code = extremely secure. Separation of the computation- and the settlement layer. Compatibility with other major Cryptos. D-Apps and much more. But above all, liquid democracy and accountability.
Are we going to see a Cardano Head and Shoulders Market Reversal ? Short term bearish. Gives you a break to load up more, Cardano is a very interesting project, big accomplishments soon, long term, I'm ver bullish on ADA, we could easily see it go up to 2-3 USD in the coming 1-2 years.
We've had a bunch of LVDBCML (Low volume down bars closing in the middle or low), which are signs of possible strength, but sometimes they fail, so here we seem to be building an inverse head and shoulders pattern, which is most often than not a bullish sign.
Are we reaching the last plateau ? We need to look out for a sign... it could be a LOW VOLUME down bar, closing in the middle or high, on a NARROW SPREAD. This one will be the signal, and if not this one, we shall wait for a second LVDBCMH. If it doesn't come... we shall burn in hell :-) (Bring your sausages and your bread and mustard.
In order for ADA to appreciate in price, it needs to be moved from weak hands to strong hands, meaning we need a lot of weak holders to give up so that a base for support can be formed. (so say the teachings of the legendary syndicate trader T.W.) :-) We are in a phase of accumulation, this could go on for several more weeks. Be strong and BTFD when we plateau.