Detective_Conan

Detective_Conan

Made a bounce off 0.24$ support/resistance zone @.236 of our fib retrace. We made it above our 21 EMA and .618 fib. If we hold support here and break out of immediate resistance trendline, high chance of testing .786 resistance zone. Decent entry for a trade @0.30 if we can manage to break out of 0.33$ resistance area. Also a high chance of getting spiked out with...

Detective_Conan

We did break out and closed above our blue trendline but with very little volume and follow through; thus forming an M pattern with .618 fib neckline. There might be some support at .786 of our fib but I don't expect it to hold the market very much. I also suspect that the green trendline support won't hold the market for long and will eventually break unless we...

Detective_Conan

As long as bitcoin remains stables, investors will be more confident in taking risks on alt coins.

Detective_Conan

Although we are hitting oversold on our MFI and RSI in ADAUSD. So i look to BTC dominance to see direction.

Detective_Conan

We are testing our 0.176$ resistance once again. With BTC/USD in new uncharted territory, we must keep an eye for BTC dominance to follow the money.

Detective_Conan

If we can get a weekly close above 21 EMA (yellow) then we might get some upward momentum through our resistance area and to our take profit area. 1 Daily timeframe to look at our entry and trade.

Detective_Conan

ADA couldn't break 0.176$ resistance and fell into lower range of 0.15 - 0.16$. We broke our 21 EMA support turned resistance, all of which is bearish. However, if we can make support here; ADA would be set for a HL to go back and retest 0.176$. This would help make the case for a short term bullish ascending triangle. Just have to see if 81 EMA holds support....

Detective_Conan

Before we take a look at our long term targets, let's look to see what the market is doing in our 4 hr chart. We found support at one of our previous resistance. Our 81 EMA (purple) held as support with a sharp impulse wave that pushed up to our 0.17$ resistance once again. With 0.156$ holding support. It makes me more confident to trade at 0.156 support or at...

Detective_Conan Updated 

ADA is consolidating inside a range between our purple resistance and blue support. 21 EMA(yellow) tested resistance and 81 EMA(purple) tested support. I will either be making an entry if we get a good break above resistance or near support. A higher low from here and and close above 21EMA will make me more confident we can go back to retest 0.16 - 0.17$, but less...

Detective_Conan Updated 

We made it to our target to test 0.17 - 0.20 from our previous post. Now we are testing it but things might have came up too hot and might need to retrace from here and accumulate before going higher. Taking a look at daily, we might have support at 0.5 fib of this run up, if not then near bottom of ascending wedge within blue trendline.

Detective_Conan

A retest to 0.17$ - 0.20$ could form a relative bullish ascending triangle and also a completion of a 2 year cup and handle. BTC dominance topping could be a catalyst for a breakout and BTC inching closer to 20k.

Detective_Conan Updated 

1 HR Chart On the 1HR chart we can see that we are making a bullish move with a bullish RSI divergence in blue and an inverse H&S. We have resistance at 0.618(@9k) of our white fib retracement and we seem to be forming an bullish ascending triangle. Once we break out of this resistance we can find resistance on our Daily. 1 Daily Chart Going to our 1...

Detective_Conan

BTC is showing weakness in momentum with a weak bearish RSI divergence formed, but we are not yet in the oversold territory on the RSI. Which has me to believe that we still have room for more upside. Although I rather BTC have a healthy correction to 0.782 of our white fib retracement @ 9000 before moving up. This area also lines up with our 200 SMA (red) on the...

Detective_Conan Updated 

1 Daily We did not manage to make a lower low from 6.5k but got a runup to 9.2k instead this past month. After hitting 9.2k we got a bounce from .618 of our white retracement also where our 26 EMA was (purple). We managed to break above 200 SMA (red) with that thus making us bullish . We managed to break through our 50,100 and 200 SMA altogether. A weak bearish...

Detective_Conan Updated 

Looks like BTC finally broke it's Monthly 12 EMA(yellow) and pierced through 26 EMA(purple) with a wick. 26 EMA seems to be holding as support for now. Monthly MACD seems to be forming a bearish crossover. We are showing similarities to the beginning downtrend from 2017-2018. I found a Fib Retracement(Light blue) that BTC seems to respect in the past and as of...

Detective_Conan Updated 

BTC is looking to go back down to restest our 50 SMA (green) and 100 SMA (support) for support. If we manage to get a weekly close below either, things could look very grim. We are still however within a giant triangle marked by pink dotted trendlines. Prices will consolidate within our 12/26EMA and 50/100 SMA range between our .5 and .382 (orange) fib retracement...

Detective_Conan

We've broke through our 200 SMA (red), 12/26 EMA( yellow/purple) which tested as resistance on the 1 Daily Chart. Could be good confirmation for some more downside action. There's a pretty good chance we go back to restest our 8,000$ support. Only support I see holding as of right now is our 50 SMA (green) which I don't find to be strong in the past. We could...

Detective_Conan

BTC has finally broken our downtrend channel resistance. Could be a mix of a short squeeze and also Bullish news from China that has caused this rally. Will that be enough to make a reversal from our downtrend channel? As of right now BTC is holding above 200 Daily SMA(red) which is a good sign but we can't seem to breach our 100 SMA(orange). Even if we break...