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Cryptostrategicreserve

Could Cardano Bulls "Raise The Flag" To $2??COINBASE:ADAUSD has some very interesting Price Action happening with the decline starting from beginning of December 2024 forming what looks to be a Descending Channel with the potential to become a Bull Flag! With a Bull Flag being a Continuation Pattern, we can expect a higher probability of a Bullish Break to this Channel to continue in the trend it was following prior to falling into this Consolidation Period. Last week we saw a huge Bullish Candle form and Break the Channel after testing the March 2024 Highs, the 200 EMA @ .7719, along with the Linear Regression or "True Trendline" of the Descending Channel. Other indicators suggest Bullishness as well with the RSI staying above 50 in Bullish Territory and we can see a large amount of Volume entering this Weekly Candle with 2 days and 19 hours left until Close at the time of publishing. *If Cardano can continue to find Support and is able to make a Valid Bullish Break of this Channel, based off the "Flagpole" or Rally, prior to price falling into Consolidation, we can expect a potential 120% gain from the Break, potentially sending price up to test the overhead Resistance Zone in the ( $1.85 - $2.15 ) Range! 3/7 - The White House will be holding the very first U.S. Crypto Summit to make plans to start bringing cryptocurrency into a U.S. Crypto Strategic Reserve www.tradingview.com
COINBASE:ADAUSDLong
by Novi_Fibonacci
1
03/03/25 Weekly outlookLast weeks high: $96,500 Last weeks low: $78,297.13 Midpoint: $87,398.56 What a week! In my last weekly outlook I proposed the idea that BTC was coiling up for a big move, the question was "which direction will the move be?" Well we got our answer, after, multiple weeks hovering around the $96K level bitcoin sold off a massive 18% to a low of $78.2k. This sell-off broke the weekly support area of $91K after a full 3 months of holding. Now that we answered last weeks question I propose a new one, is $91K now a HTF resistance level? To answer that question a look at the weekly chart, despite such a severe sell-off this is not unusual in a bull market, 25-25% corrections happen multiple times during a large bullish trend. To add to that, the weekly close still managed to be above the $91K mini range floor, in essence a giant SFP on the weekly candle and therefore a continuation high would make sense from a TA point of view. For the bulls the worry would be the inevitable backfilling of the wick on the weekly, for me this comes into play if we have acceptance back below $91K, entirely possible. On Friday 7th March President Trump is holding a Cryptocurrency summit at the white house, this will include David Sacks (crypto & AI czar), Founders, CEOs and members of the digital assets group. This comes off the back of confirmation of the "Crypto Strategic Reserve" that will contain BTC, ETH, SOL, XRP & ADA and was announced yesterday. I do not believe in coincidences so the timing of this is very interesting to me, to announce this on a weekend with very thin orderbooks and low volume after such a big sell-off had to be done on purpose IMO. The timing would guarantee a swift rally, I also believe the sell-off could be related to this announcement too, if a market maker like the US government has the means to create a more optimal entry, they will do just that. I could see the market being very cautious up until Friday, the $91K is a key S/R level and will determine if bitcoin backfills the weekly wick or moves up to weekly high.
by ProR35
3