forthescoopJ

forthescoopJ

Just a quick glance at ADA, looking at some key levels on the USD and the BTC pair, we are in a critical place to pick up momentum and move to the upside in the next few days. On a short term I expect a breakout to the upside in the next hours, if sufficient volume comes.

forthescoopJ

Everybody seems to be talking now about the BTC forming a wedge/triangle, which will determine the direction and bullish/bearish continuation. On the short term we could see that we have another reactive line that could give us insight into the direction of the final decision. Currently the level is acting as support, is it enough to push BTC over the resistance...

forthescoopJ

On the short term we could see some decisive movements as we exit this triangle forming from the drop. The Wyckof levels are still at play- the low level low (AR) is a strong support orange level in the middle is on the 0.5 fib extensions, so a lot of levels to work around. Only option is to watch as it unfolds.

forthescoopJ

Expect more downtrend before reaching a second low. Currently a strong divergence in price and volume action suggesting a downtrend soon - SHORT TERM!

forthescoopJ

There we have it, a completed Wyckoff accumulation. Phase D completed with this consolidation after the SOS (mentioned in the previous idea). Now we have the last resistance around 51K, and after that we should be clear for new all time highs. The price back tested the PS resistance and now is looking up.

forthescoopJ

The recent move indicates that we are currently finalizing the Phase D of the Wyckoff Accumulation. BTC has put up a fairly decent move to the upside market by the SOS (Show of Strength) which could indicate we are ready to enter Phase E, or rather exit the accumulation phase (after some consolidation). The price levels BTC has found resistance are the levels that...

forthescoopJ

I'm just going to leave this here for reference, this is my view how the end of the Wyckoff accumulation will play out. We will probably form a ascending triangle and by the 22.08. either confirm or negate the structure detected. The key levels have already been addressed in previous ideas, I have linked them bellow. CHEERS!!

forthescoopJ Updated 

We are waiting on confirmations of key levels, and forming a bull flag by testing three different levels. if we brake through and get in the golden pocket for a back test, to find strong support, then it's clear skies for the next leg up in the BTC price. See my previous idea predicting this current correction and re test.

forthescoopJ

On chart indicators suggest a short correction in the price BTC. The bulls need a rest stop after being rejected from the 100 day SMA, so I assume the bears will take over in the short term. It only depends on the time perspective, how long the bulls will need to rest. From the RSI it seems the recent price move was in fact a trend reversal (as mentioned in my...

forthescoopJ

Finally we are leaving Phase B, and entering phase C. Prepare for short term pain and then the bounce from the spring zone. This is the continuation from my idea (linked) but the time frame is largely extended.

forthescoopJ Updated 

Currently XRPBTC pair is showing some support on the 2250-2300 sats levels. This is proven to be a support previously and is continuing now. However, on the short term, we could see another drop off the test the support zone market with the rectangular. As this zone is less tested and we need to confirm it as a support too. Additionally, this would be a finishing...

forthescoopJ Updated 

XRPBTC pair showing a bearish flag formation, could go down on the short term to test the support level of around 2000 sats.

forthescoopJ Updated 

Breaking with confidence trough the ascending triangle, could push XRP to test the previous levels, with a somewhat bullish BTC.

forthescoopJ Updated 

Still new to this, but for now seems like we are following a Wyckoff accumulation. Confirmed Phase A, looking to reach Phase B levels.