ADAUSD Bull Pennant & Small Pairs Pump
Updated
Important things to note:
BTC is taking a breather today, it recently hit the 54K level I have been talking about.
Because of this, altpairs are looking better.
ETHBTC made its first little pump back up.
ETHBTC will lead other altbtc pairs in the push upward.
I believe there is more downside for altpairs.
ETHBTC looks like it has a small bull flag.
ADAUSD is showing a bear pennant signaling more downside.
Set alerts to both trendlines so you know where it breaks.
If it breaks to downside expect a stop at 2.03.
If it breaks to upside, I would expect consolidation.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Today was an interesting day. BTC has finally hit the 54k level I was waiting for, but only for a second. Since BTC is slowing down right now, ALTBTC pairs are looking better. Especially ETHBTC. I expected ETHBTC to get a little pump exactly where it is at, however, I did not expect it to produce a bull flag. This may just be a fluke however. The reason this is important is because ETHBTC will lead the charge for the alts when they start moving. So, I watch it very closely. Personally, I expect more downside from alts in general (ADA included). But, if ETHBTC starts moving, things may turn around. When looking at ADAUSD, I see a pretty clear bear pennant signaling more downside. Set you alerts on both of those trendlines so you are aware of the directional change. If ADA moves to the downside I expect it to hit 2.03, and if it moves to the upside, I expect it to start consolidating for upward movement. There is still room for my double bottom on the 1D (I know I have been waiting a couple weeks for it, but it can still happen). Anyways, this was just a short update. All in all, if you want to see where things are headed in terms of alts, just look at ETHBTC. If the bullishness breaks, expect more downside. Personally, I still believe alts will start moving sooner than many people think. That being said, I will continue to watch ADA and update you all accordingly! Thanks again everyone!
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.
BTC is taking a breather today, it recently hit the 54K level I have been talking about.
Because of this, altpairs are looking better.
ETHBTC made its first little pump back up.
ETHBTC will lead other altbtc pairs in the push upward.
I believe there is more downside for altpairs.
ETHBTC looks like it has a small bull flag.
ADAUSD is showing a bear pennant signaling more downside.
Set alerts to both trendlines so you know where it breaks.
If it breaks to downside expect a stop at 2.03.
If it breaks to upside, I would expect consolidation.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Today was an interesting day. BTC has finally hit the 54k level I was waiting for, but only for a second. Since BTC is slowing down right now, ALTBTC pairs are looking better. Especially ETHBTC. I expected ETHBTC to get a little pump exactly where it is at, however, I did not expect it to produce a bull flag. This may just be a fluke however. The reason this is important is because ETHBTC will lead the charge for the alts when they start moving. So, I watch it very closely. Personally, I expect more downside from alts in general (ADA included). But, if ETHBTC starts moving, things may turn around. When looking at ADAUSD, I see a pretty clear bear pennant signaling more downside. Set you alerts on both of those trendlines so you are aware of the directional change. If ADA moves to the downside I expect it to hit 2.03, and if it moves to the upside, I expect it to start consolidating for upward movement. There is still room for my double bottom on the 1D (I know I have been waiting a couple weeks for it, but it can still happen). Anyways, this was just a short update. All in all, if you want to see where things are headed in terms of alts, just look at ETHBTC. If the bullishness breaks, expect more downside. Personally, I still believe alts will start moving sooner than many people think. That being said, I will continue to watch ADA and update you all accordingly! Thanks again everyone!
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
Looking into VRA at the moment. Also, COTI is making a stablecoin for ADA. I forgot to mention that before.Note
Boy did I post this at the perfect time LOLNote
CORRECTION: LOL I called it a Bull Pennant in the title. Damnit. You know what I mean.Note
ETHUSD is very close to creating an inverse H&S pattern.Note
Plot twist, small amount of bullish divergence on RSI for ADA. We are seeing the outcome of that right now. The battle between the bears and the bulls over the past couple weeks has been wild. Though I would love to see ADA touch that diagonal trendline so I can load up, I am extremely impressed with its ability to hold its own. I have mentioned ADA's strength before but with alts breaking large bullish patterns, ADA is going a great job at being neutral during these times (at the very least).Note
If ADA can get past 2.15, it will be safe from a further downside move (for now).Note
ADA has completed the move from the "M" pattern. (this is why the price stopped at the bottom of the M). I was curious to see how this would go. Again, I expect mostly consolidation, a few pullbacks, and slow upward momentum. This depends entirely on ETHBTC in my opinion. If we see the altpair gaining momentum, instead of a continuation of its corrective move, then the alts will start moving. When BTC shows any signs of slowing, (for example a pullback), the alts start to move. Since the end of BTC correction, there was only bullish FOMO, with BTC breaking all of the rules and only showing extreme bullishness but this cannot last for months. That is why I expect alts to start moving after BTCs first real pullback. We already saw a taste of this recently when BTC actually started a cooling off period. I expect a pullback of BTC after it creates an ATH. This is why I am counting on alts to start moving after that time. I hope this makes sense to everyone. Thanks!Note
So, I know for a fact that big investment money is starting to buy alts, this is due to them expecting the BTC.D % to fall. And they will be right. Personally, I do not see it breaking 50% before the tumble occurs. This does not mean the price of BTC will go down during that time, it is quite the opposite. However, that is the time alts start to move. I have said before I expect it to be earlier than most people think, (end of OCT at earliest and end of NOV at the latest). I have explained to you why I believe this and I know this is true from people very close to me that you would consider an extremely large crypto investor. If you are at all worried, (I'm sure some of you are) take a breath, relax, and come back in a month. Thank me later. LOL. Otherwise, sit back and enjoy the ride. If you are long term investing, do not sell during the pullbacks in a bull cycle. That is when you should be buying. Keep those emotions in check or get wrecked.
Note
Looks like we have been range bound for the past couple weeks, trading sideways, totally expected in times like this. Consolidation, consolidation, consolidation.Note
Hey everyone! Airthuggin regularly posts content on growing crypto project! If you want to follow check him out:IG and twitter stockjupiter and @stockjupiter_
Note
So I have mentioned that we are a bit range bound at the moment, but that is actually what I want to see right now. For the next couple weeks (or however long it takes) I want to keep seeing this basing pattern form. We got away from the nasty overhead supply and we are flattening out a bit. This is going to provide the base for the upward movement to come in the future. Again, totally expected during this time. From a "big picture" standpoint, things look pretty good. Alright that's it for me today. I am going to get some rest! Goodnight everyone!
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