ADAUSD Correction Coming to an End
Updated
Important things to note:
BTC is on its way to make its 3rd lower low between 40--38k.
This will signal a significant reversal due to the three drives pattern.
A three drives pattern is 3 lower lows or 3 higher highs followed by a reversal. (you have seen me mention this before)
If the minor trendline breaks and the price falls to 1.91 this will create an impulse.
ADA could always push up from here, but the momentum would not be as strong.
Indicators show a nice bullish run starting very soon.
I have said there are only a few more movements left in this correction and I believe this move downward is the last.
This will cause an impulse that creates a new bullish trend.
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021
LOTS of great news coming from this. I will make a post when the summit is over summarizing everything.
So, a lot of you might be wondering how I knew the price was going to fall to the trendline from my last post. It is because of the three drives pattern. I have never seen anyone mention this pattern on tradingview but it is extremely powerful, I use it all the time and have mentioned it previously. This is how I predict that the correction is coming to an end in one more movement. BTC is on its way to creating that new lower low which will be the third in the series signaling a trend reversal and the end to the correction. ADA will likely follow this, as I can see a low of 1.91 coming next if the trendline breaks. But fear not, this will be followed by a quite robust bullish trend that will get ADA out of the nasty correction is has been in for some time now. This is the same pattern I applied to the 3 highs we just had before. Now, the price could just push forward at the current trendline but the bullish momentum will not be as strong as if it falls to 1.91 first. So all in all, this would be the best option for ADA. Again, the three drives pattern is especially strong so I was looking forward to it. Lets see how this plays out. I will continue to update you all on the movements and I hope this helped you learn something new.
On another note, I went to the ADA summit today and it was a ton of fun. I got some limited edition NFTs (pretty cool), and a ton of news has come out. I have mentioned some of it on my last chart via the updates. I will be putting out a whole post on the matter after this summit is finished tomorrow. We have a lot to be excited about!
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 on its way to make its 3rd lower low between 40--38k.
This will signal a significant reversal due to the three drives pattern.
A three drives pattern is 3 lower lows or 3 higher highs followed by a reversal. (you have seen me mention this before)
If the minor trendline breaks and the price falls to 1.91 this will create an impulse.
ADA could always push up from here, but the momentum would not be as strong.
Indicators show a nice bullish run starting very soon.
I have said there are only a few more movements left in this correction and I believe this move downward is the last.
This will cause an impulse that creates a new bullish trend.
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021
LOTS of great news coming from this. I will make a post when the summit is over summarizing everything.
So, a lot of you might be wondering how I knew the price was going to fall to the trendline from my last post. It is because of the three drives pattern. I have never seen anyone mention this pattern on tradingview but it is extremely powerful, I use it all the time and have mentioned it previously. This is how I predict that the correction is coming to an end in one more movement. BTC is on its way to creating that new lower low which will be the third in the series signaling a trend reversal and the end to the correction. ADA will likely follow this, as I can see a low of 1.91 coming next if the trendline breaks. But fear not, this will be followed by a quite robust bullish trend that will get ADA out of the nasty correction is has been in for some time now. This is the same pattern I applied to the 3 highs we just had before. Now, the price could just push forward at the current trendline but the bullish momentum will not be as strong as if it falls to 1.91 first. So all in all, this would be the best option for ADA. Again, the three drives pattern is especially strong so I was looking forward to it. Lets see how this plays out. I will continue to update you all on the movements and I hope this helped you learn something new.
On another note, I went to the ADA summit today and it was a ton of fun. I got some limited edition NFTs (pretty cool), and a ton of news has come out. I have mentioned some of it on my last chart via the updates. I will be putting out a whole post on the matter after this summit is finished tomorrow. We have a lot to be excited about!
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
I want everyone to know that altcoins, for the most part, lag a bit behind BTC when we are talking about momentum. The reason for this is diminishing BTC returns. Open up a chart and compare BTC with ADA, you will see what I mean. Cheers!Note
They are talking about Hydra scalability right now. Yesterday swiss tokenization firms said big banks were saying that they are looking for scalability. They want reduced time to transact and reduced fee expenditures. Meaning, they will be moving away from ETH in the future and likely heading for ADA. Cheers!Note
If you are a developer and you would like to try out hydra, you can demo it here:github.com/input-output-hk/hydra-poc
Note
To be clear, the layer 1 is the cardano blockchain, hydra is a layer 2 protocol that an application uses for example for transactions by interacting with both layers. This will greatly increase scalability within the environment. This might be a little too tech heavy if you are not a developer, but just know, it is something to be excited about.Note
So I messed up when looking at BTC. I just noticed the double bottom, and realized there was just a trend change. So I looked at the 4hr and 1hr and saw the 2nd and 3rd lower low just happened, just very close to each other so it was hard to spot. Then I started looking harder and realized this double bottom and higher low was in response to this. This is it, the correction is over. BTC is going to pump. The same can be said for ADA, though like I said there will be a lag period. I was wondering why I saw 3 lower lows on ADA and didn't see it on BTC, I was just missing it. Sorry about that.
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