Whether the broader market, and ADA, is declining into a "crypto winter" or death spiral is a valid question to ask, especially when prices are well below a recent ATH.
With TA we can only look at probabilities among possibilities. A drawn out consolidation is possible. However, RSI and LSMA remain high in timeframes 10 days and above. In most timeframes,...
Yesterday BTC and the broader market crashed, sending prices down double digits across the board. I will leave discussion of why that happened to others, as it is beyond ADA's technicals.
ADA dropped l8% on the day, erasing the upward momentum that ADA was forming. Compared to many assets that fell 20-25% or more, ADA fared relatively better,...
Today there are several new candles to take a look at. The picture remains complicated, but there are reasons to be optimistic and possibilities for accumulating more at a discount before reversal. The next 9 days will be interesting.
Yesterday's forecast was for prices to fall as low as 1.25. Prices did not fall that far, finding support at...
In this video I take a look at several charts in short-term through mid-term. The picture is complicated. There is a mix of good and bad news, and plenty of risk in the next week.
Possibility of a rally around June 23 is remote, if not invalidated at this point
Lower timeframes (<6H) suggest lower prices are likely,...
Yesterday prices fell a bit farther than expected, down to 1.37 rather than 1.42. Since then prices have returned to 1.42.
The day is starting with a bit of a rebound, but this will need to translate into a rally that will take prices towards 1.50 or above. Despite yesterday's drop, the 2D and 3D continue to show the potential for a reversal and...
As expected, yesterday 1.50 was tested, and after breaking prices fell further. ADA established a bit of support around 1.45.
The next 48-72 hours are an interesting mix of downward momentum with certain indicators rising. It is quite possible that a rally happen in next 3-5 days, bringing prices towards 1.81.
In particular, green EMA has...
I am short on time today, so this will be a short update.
As discussed and forecast in yesterday's video, in the 3H the Bollinger Bands expanded as the LSMA crossed below level 50, allowing prices to drop below 1.50.
The 6H chart today has the potential for a similar crossover that could lead to lower prices.
The region around 1.50 may have...
Today I tried to keep the video short. Here are the highlights:
Discuss the crossover pattern in the 3H, which in this case is likely to lead to a drop in prices once the LSMA crosses below level 50 and B-bands expand. A good pattern to know
Crossover down may cascade to higher timeframes intraday and led to prices testing 1.50 and...
Yesterday prices bounced from 1.50 to 1.59 as expected, however this did not result in a true test of the 1.60 level. There wasn't enough upward momentum to reach 1.60.
Today prices may properly test 1.60, and if broken could rally towards 1.64. However, the upward momentum, while continuing, is rather weak as seen by the price movements in the...
In this video I discuss the recent bottom, downward momentum continuing to be in control, and if a major rally or leg up can be expected soon.
I also spend time in the video giving a bit more information on the multi-timeframe analysis approach while using it to make a forecast for the next 2 weeks.
Bottom in, for now...
After dropping to 1.35...
Just a quick update on prices.
Yesterday was a bouncy day. As expected, prices started up just above 1.50, then fell towards 1.43 hitting resistance at 1.40 before rebounding. Mid-day the broader market rallied almost 13% to 1.58 (close to the forecast of 1.60). Today has been similar with a drop to 1.50 and rebound to 1.58
4 Day Price...
Yesterday prices continued to consolidate down the 1.35, very close to the forecast of 1.34. Prices then rebounded and attempted, unsuccessfully, to regain 1.50.
ADA is attempting to regain 1.50 as support early in the day, and may reach 1.52, but upward pressure is weakening. As the day progresses, prices could again fall back towards 1.43
Yesterday's forecast was for prices to fall to 1.41, which it did after support at 1.50 was broken. Sustained consolidation has set in as expected.
In today's video I look at today's price action, the next 2-3 days, and then longer timeframes. I also discuss the importance of analysis over multiple timeframes using the 6-day chart as an...
Several important candles will be closing tomorrow (e.g., the 9D), so I will focus on the next 24 hours in this update and save a more detailed analysis for tomorrow.
Yesterday's forecast was for consolidation to resume after previous day's rally. As expected, prices did fall from 1.64 down to 1.50 before bouncing back slightly.
In today's video I discuss the daily forecast, but discuss the risk of consolidation that is evident in the 9-day chart.
Today, prices are likely to stay under 1.65, though could rally a bit higher. Prices may range around the 1.60, though there will be increasing pressure for prices to return towards 1.50 or below.
New 2D, 4D, and 5D charts...
Yesterday started with prices up, but late in the day prices fell to 1.60 and then 1.55, as forecast. Since then ADA tested 1.50 with a wick to 1.47. The 1.50 level appears to be holding for now, and ADA may reclaim 1.55, but this may not hold long.
The 12H is indicating lower lows, and prices could again test 1.50, dropping to the lower...
In this video I look at ADA/USD from today through the next 12 days.
Today - Continued range-bound action similar to yesterday, but with a test of 1.60 or 1.55 likely
Next several days - More sideways action with downward bias sooner turning upward bias possible later
6D chart suggests upward bias that could take prices back to 1.80...
I found a small bit of downtime during my travels and thought I'd take the time to make a video about this new trading day, where prices might be going in the next several days, and a risk to be watching.
Today, prices are starting down. This is not unexpected given the recent rise from the 1.30 low and with the white EMA hovering around level...