ADA/BTC looking fantastic right now that the bulls started defending a level causing a double bottom on the chart. Additionally, we have entered the accumulation phase and it's likely that we will start a new uptrend soon considering that an announcement about Cardano's Shelley update will be made on September 28th. This is a very important update that everyone...
In mid May price corrected to the golden ratio of 61.8 before the bulls continued on their way up. Due to the recent explosion on price I believe the bears will be in control in the short term until hitting the RLZ (reload zone) or at least the golden ratio as seen before. Once hitting said level I expect the bulls to regain control. I also believe we may be...
Technicals: Algos on both sides are targeting the same area. The shorts are targeting the apex of the triangle where their fib level meets. Longs will be catching the golden zone for a potential 2 wave in terms of EW. We also have previous market structure setting up the scene quite nicely along with Andrew's pitchfork kissing that sweet spot at the golden zone...
It seems like Silver broke down from a triangle recently and is trading withing the pitchfork. As you can every attempt to break out of the fork has been rejected. You can also see it got shorted at the 61.8 level meaning someone is setting lower targets where I am proposing the end of an ABC correction.
What are your thoughts on this?
Potential 123 bottom on ADA to Bitcoin. Short term target are at usual algo targets marked by confluence the fib pull and the APP. If this is a reversal then we could expect more upside in the short term.
The H&S can be seen on the OBV on the daily as well although not yet confirmed.
