In the past year or so, ADA has gone through frustrating phases where it does nothing or has a large correction. But these corrections have been followed by parabolic rallies. Every one of these corrections/consolidations has lasted 10 weeks, and this current correction will have lasted 9 weeks after this weekly close. I think next week we could bottom out...
On the right of my chart, I have a screenshot of BTC from the correction in January until the Correction in mid February next to the current chart. IMO this is a recipe for a potential flash crash to around 50.5k-54k as a final shakeout before the mania phase of the bull market up to 200k.
ADA has made a falling wedge and a bullish divergence with the RSI and HVN on the 4 hr time frame. I'm expecting a nice pop over the weekend while BTC goes sideways or slightly up. Then, if BTC has a final shakeout to around 38300, that could cause ADA to backtest the upper trendline of the falling wedge as support.
BTC has just broken down from a rising wedge, signaling that we will likely have one more dump until we start trending up again. My support level is 38300, which is the 0.618 on teh daily time frame and also previous support.
BTC has formed a rising wedge after bouncing from 44k with low volume. I am anticipating a breakdown to 43k, and my stop is above 46.3k on my short, as that would make a higher high and make the rising wedge much less likely of playing out to the downside.
BTC has completet an inverse head and shoulders pattern on the 4h chart. The technical breakout target is 52.2K, my target is 51373, since 51500 is a pretty big resistance level. But if that breaks, there is a massive volume gap between 51500 and 57000, which means BTC could have a major short squeeze!
After breaking nicely out of a falling wedge and hitting my 49.2K target which I called at 47K , BTC has just formed and broken out of a cup and handle , with a technical breakout target of 52K. One thing to keep in mind here is that the volume is weak, but it has been growing for the last 12 hours. If there is a lack of sustained volume , then BTC could...
Bitcoin has just formed a diamond bottom and broken out of it. It has also made a bullish divergence on the 1h timeframe. It bounced very nicely off the 0.618 fib retracement level at 46.4k. With all of these things in mind, I think it is ready for a bounce to 48k minimum and will possibly march on to make higher highs
ADA has broken out of the 1.272 fib retracement at 2.87, which is great to see. I've laid out all the fibs and log fibs for potential areas of resistance in the future up to 4.33. Just because it's out there doesn't mean it has to be resistance but they might be good places to scale out of long positions or enter short scalps if the price is overextended right...
BTC has just made a morning star on the 4hr timeframe, which is where there is a large red candle, followed by a candle with a small body, followed by a large green candle. It's usually a reliable bullish signal.
CHZ has just broken the 0.39 resistance it has been battling with for a few days now. Now it looks ready to make an expansion move up to 0.45, which appears to be the next resistance. Keep in mind that the RSI is slightly overbought on most time frames, so expect some sideways consolidation or a few dips along the way.