ADAUSD Begins the Bullish Trend
Updated
Important things to note:
I bet that last retracement had you sweating LOL
Fortunately everything looks fine.
If you are looking at BTC the price will retrace above the new higher low we had as to not create a H&S.
ADA is just retracing. I expect an upward push to price target.
Price target is marked on chart in green.
The major resistance is in yellow.
The reversal will start slow and gain momentum with every resistance level passed.
Important dates:
I will update this soon when I post about the summit.
So I bet you were looking at the retracement thinking we were doomed? Well, not so fast. This is all going according to plan so far. We got a bit of retracement and the price will push up to the price target I marked in green. The main resistance is still in yellow but I will update once the first one is passed. There are a lot of shorts out there, they will have to start covering creating more upward pressure. Pretty soon, the shorts will get hunted. This is why it is best not to listen to the news. The way it works is, you listen to the news, you make an emotional trade, the whales collect. That is the simplest way to explain it. LOL. I expect the price to continue upwards. You will see a lot of bullish posts in the near future from everyone. That's for sure. There isn't too much to update you all with other than to say its looking fine and the price will push upwards. It is just slow because of the reversal, similar to how the high prices slow down before a fall. This is the same thing, but in reverse. The market has a long way to go to turn around. The best thing to keep your eye on is the low at 1.91. If the price crosses that target, I will worry. There are a lot of tests that need to be completed while the bullish momentum picks up. So far, things are looking great! Thanks again for all the support! I will continue to watch ADA and update you accordingly! Stay relaxed, there is nothing to worry about at the moment.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
I bet that last retracement had you sweating LOL
Fortunately everything looks fine.
If you are looking at BTC the price will retrace above the new higher low we had as to not create a H&S.
ADA is just retracing. I expect an upward push to price target.
Price target is marked on chart in green.
The major resistance is in yellow.
The reversal will start slow and gain momentum with every resistance level passed.
Important dates:
I will update this soon when I post about the summit.
So I bet you were looking at the retracement thinking we were doomed? Well, not so fast. This is all going according to plan so far. We got a bit of retracement and the price will push up to the price target I marked in green. The main resistance is still in yellow but I will update once the first one is passed. There are a lot of shorts out there, they will have to start covering creating more upward pressure. Pretty soon, the shorts will get hunted. This is why it is best not to listen to the news. The way it works is, you listen to the news, you make an emotional trade, the whales collect. That is the simplest way to explain it. LOL. I expect the price to continue upwards. You will see a lot of bullish posts in the near future from everyone. That's for sure. There isn't too much to update you all with other than to say its looking fine and the price will push upwards. It is just slow because of the reversal, similar to how the high prices slow down before a fall. This is the same thing, but in reverse. The market has a long way to go to turn around. The best thing to keep your eye on is the low at 1.91. If the price crosses that target, I will worry. There are a lot of tests that need to be completed while the bullish momentum picks up. So far, things are looking great! Thanks again for all the support! I will continue to watch ADA and update you accordingly! Stay relaxed, there is nothing to worry about at the moment.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Note
Bears trying to test the same 408XX level for the 4th time. If there is no impulse signaling confidence the price level cannot be broken, that isn't great for short term bullish momentum. We need a bounce next. That being said, nothing has changed in terms of outlook yet. The plan is the same, unless a lower low (below 1.91) is created. Cheers!Note
If we don't get a strong impulse bounce here (likely a double bottom reversal on 4 hr), there is going to be another movement down. In this case, BTC will likely go to 38k and ADA to 1.71. But we are still in the game at the moment. The next 24 hours are very important.Note
If still bullish, we will see a retest of the first resistance line and the first small price target hit.Note
If you want to follow along what I am looking for, the length of the next 4hr candle on the BTC will be important.Note
Can we get a bullish engulfing candle on the 4 hour before the hour is up? It would be nice!Note
People are getting mighty bullish around here! LOL The flip flopping has begun LOL. It's ok to be wrong, but at least say that you were wrong if you want anyone to take you seriously. Trends shift and no one is right all the time. TA is just making predictions. They don't always pan out. When I am wrong, I am always the first to say it and I don't expect to be right all the time. Being bullish when the price is going up and bearish when the price is going down isn't how TA works. As I have said for about a few days now, there are 2 options here. Option 1 (more likely in my opinion) - the correction ending signal confirms and the price goes up. Option 2 (less likely in my opinion) - 1 more downward movement signaling an end to correction and price goes up.Note
Oh and I should mention there is bullish divergence on the 4hr ADA chart.Note
Again, I am just having a bit of fun! Don't go around calling other people flip floppers LOL I just want you to know that when you start posting, people will be calling you out left and right, and that is ok. Just make sure you are always honest with them and yourself and you will be fine! Even if you are wrong. BTW - we just hit are first bullish confirmation on BTC right now. :) On to the next resistance level! As I said before the bullish momentum will lag behind a bit for ADA, but don't worry about it.
Note
If BTC can make it over 43803 those shorts are toast.Note
BTC broke above 43803, the correction is officially over. You heard it here first a few days ago my friends!Note
I'm so happy right now, for the past 4 days, I have been in front of my computer charting up a storm and trying to predict the end of the correction. Now that it's here, I am going to sleep a bit early tonight! If I don't update the chart, you know why. Things to look out for while I sleep:
I would like to see some retracement on the cup connecting the double bottom to form a handle and use that small pattern to push past resistance to my target. Also remember, the momentum for the alts always lags behind BTC, but rest assured if the bullish momentum continues, it will continue for your altcoins as well, including ADA. This will lead to most coins trading sideways or mildly bullish for a week or 2 while BTC gets its feet under itself. Thanks again! I hope you enjoyed the ride and learned something along the way!
Note
Ok guys, I am going to bed for real now LOL So, here is my month to 2 month outlook, BTC and ADA will start retracing and consolidating. Since we know that as of now the trend is bullish until proven otherwise. This means you shouldn't see a low below 395552 for BTC and if ADA translates to BTC correctly, 1.91. As you should know by now, a bullish trend does not mean higher lows for every single retracement forever. But it means we have likely seen the lowest lows of this month long correction. You shouldn't have to worry about some crazy dump. That is not happening. The major movement started a few days ago and it ends with at least 1 new all time high for BTC and ADA (probably multiple ATHs). That is what we have to look forward to for now.
Thanks again everyone! Relax, the worst is behind us for now. Goodnight!!
Note
BTC is running, just hit a key level.ADA just breached resistance, price target hit perfectly!
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