Inverse H&S playing out on 4H timeframe with ADA. We did have a 4H candle close above neckline and just tested that neckline with the previous 4H candle. Measured move for ADA on this IHS is $1.38.
ADA has broken out of the falling wedge pattern and the measured move target is the top of the wedge at $1.98... this aligns nicely with some EW analysis that has ADA headed towards $1.91 as well as eloquent's minor wave targets in the $1.65 range which you can find here in the comment section - he also provides a longer term 5th wave forecast which I recommend...
AAVE has been printing a smallish bull flag as of late and is breaking out currently with a daily dragonfly doji candle close. These two facets are pretty bullish when all things considered knowing that ETH has London HardFork coming up on Aug 4th and now we know Elon Musk personally owns Ethereum in addition to Bitcoin and a much smaller DOGE position. We could...
This is of course if there is a successful breakout of the falling triangle which differs from a descending wedge. The falling triangle is a reversal pattern. Cardano has major updates coming out over the next month and will have fully functional smart contracts in September. This is along with low user fees and almost zero energy waste. ADA has the best...
DXY is priming to target the 2014 lows - I expect a further weakening move after the infrastructure bill is passed this week / next week and as the debt ceiling (largely a formality at this point) as the US further enters the Japanification territory of perpetual bond purchases by the Fed. Either the Fed accepts its fate or it fights the markets and allows it to...
BTC is looking not so good these last few days and is closing below critical bull market line support from back in October 2020. We could see a 5th wave down to $28k today. Let's re-evaluate from there as we will likely find a bottom in the next few days but it could get ugly... Currently BTC is in a Bear Flag pattern on 1H candles as well... currently breaking down:
DXY Looks like it's in a bearish wedge formation that formed on June 18th and this is inside of another larger bearish wedge structure with a base around 89 which is where I think the ultimate target is before the next move up or down in DXY can be determined. This is a medium-long range HTF forecast - not to be used for shorter term trades. In the shorter term...
Weekly candle just closed with a hammer and 2 candles before was a dragonfly doji. It seems to have little effect on price action as this market continues to confuse nearly all traders / investors. The most likely trend for next couple weeks is sideways chop until a test of the purple trendline occurs - likely later in August or by early September. Jackson Hole...
KSM has formed a bullish descending wedge structure that should begin to consolidate sideways and then breakout to the upside considering we are above the 0.5 Fib Retracement line which is where you look for bullish chart patterns for a continuation of previous trend which is up. The other noteworthy chart pattern a trader should look for is Hidden Bullish...
BTC is currently in a small selloff intraday due to the correlation to the Dow which will subside as market makers in the dow are trying to figure out how to handle the long call option gamma on individual stock issues. This will likely subside as intraday DOW was down 400 pts and is now down only 280. Expect the bullish hammer candle on the previous 4H candle...
BTC on 4H chart looks like it's playing an exact fractal replica of what just occurred from June 10th - 13th - this fractal would take us up to $45k. REMEMBER: The 5D DragonFly Doji is still in effect! This should last another 3-6 5D daily candles. It was one of the most powerful candles in the history of any candle and when found at the bottom of a downtrend...
KSM is in a bullish descending wedge structure on multiple timeframes and a breakout if it is to occur - which I have high confidence in considering BTC printed a 5D DragonFly Doji candle on June 10th and should last with bullish momentum for the next 3-6 5D candles. The first target is the top of the wedge structure at $540. From here we will have to revisit...
BTC is currently testing the Feb 6th-7th (orange circle) daily timeframe candles as support. This structure test is healthy as it will continue to pull in more shorts who have been over-confident since the May 19th Selloff. Shorts are now 110% higher than the previous 2021 high set on May 19th. If you look at what happened on Feb 8th - there was a large green...
Market makers are using the uncertainty around the Powell meeting - even though we already know Powell won't make any drastic moves and is very dovish (and ultimately very bullish for BTC) - Market makers are using this fakeout to the downside right now to suck in as many shorts as possible before using them as a short squeeze in next 48 hours. This bull flag is...
KSM's price is printing a high low on Daily TF while the RSI is showing a lower low. We can now expect a new peak to be formed (yellow box) The most ideal place where a hidden bullish divergence can occur is at the end of a downtrend which is exactly what has happened since the June 9th downtrend! As long as BTC holds steady expect this to play out to the upside
As long as BTC doesn't dump hard here KSM is in an excellent position if you haven't bought in yet or if you want to add to your positions... this is imho one of the more wildly undervalued projects in the entire crypto space along with PolkaDot (DOT). KSM and DOT are essentially the same except KSM is 4x faster (and has 1/10th of the supply) in its relay chain...
The last time KSM produced this buy signal it moved nearly 1000% from ~$60 to $630 over 167 days. KSM is about to produce another Hash Ribbons Blue Circle Buy signal in the coming days and if we were to take the same prior period move and overlay that over today's prices KSM could potentially touch $6,400 / token over the next 167 days if history were to repeat by...
KSM is on schedule to release some of the most advanced technology on the market and the large institutional money is flowing into both DOT and KSM. KSM is only $3.4B market cap and has a lot of room to run to be properly priced - right now the market is not really aware of the potential of KSM but there will be several large auctions launching over the next 2...