mysticalwalrus

mysticalwalrus

If you take a look at the chart you can see the consolidation area. This consolidation range was calculated by taking 30%-60% of the push range, which is the correct retracement for an upward trend. I am hoping for a longer consolidation period this time so we are able to run up to 3.00 in one fell swoop. The next minor price target is 3.00 because of its...

mysticalwalrus Updated 

So, on my last chart I noted that the small cup and handle pattern was telling us our next target was 2.75. Well, that target was hit right after I saw the bull flag and put out the calculation. However, there is still a larger cup and handle formed May 18th that has given us a target of 3.25. I expect there will be a period of consolidation soon in preparation...

mysticalwalrus Updated 

Small pullback and consolidation for ADAUSD ahead. The bottom of this cooldown period will be a great time to get into ADA for the first time without worry, or to simply add to your collection of ADA. With the momentum coming for the September 12th release of Cardano Alonzo and the ability for smart contracts, I highly doubt the momentum is going to shift...

mysticalwalrus Updated 

ADA is just pushing out cup and handle patterns right and left. It is not unheard of to see patterns repeat on a chart. In fact it happens quite often if there is a strong directional bias. Albeit, you see it a LOT more on crypto charts than you to in the stock market. That being said, the next minor target is 2.75 or a 4% increase. This is calculated by the...

mysticalwalrus Updated 

ADA has pulled back and went into a consolidation pattern as expected. It has formed yet another bull flag prior to another attempt at a breakout. My overall target for ADA is 3.25, and this is based on the last cup and handle pattern. Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo...

mysticalwalrus

Welp I said it in my last chart about 2 hours ago, ADA looked like it was going to breakout again. You heard it here first! Lets see if it holds. I think it will :) This is not financial advice. DYODD. Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.

mysticalwalrus Updated 

About 2 hours ago I was looking at the consolidation pattern and looking at the buying volume. At first glance I thought there could be a push, but I thought there wasn't enough consolidation. Now I am looking at a 5.9 on the faith metric which measures buying volume vs selling volume and momentum. The buying volume right now is huge for such a small amount of...

mysticalwalrus Updated 

This chart was hard to make because of the length of the time frame. I had to make it a weekly chart because we can't see the pattern in the monthly and the daily was too messy. I actually couldn't believe the massive cup and handle when I saw it. The handle is a bit messy, but still holds up to textbook comparisons (if you don't believe me, check Tim Knight's...

mysticalwalrus

ADA uptrend confirmed at 2.22. Nuff said. This is not financial advice. DYODD. Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.

mysticalwalrus Updated 

If we take a look at figure 1, we can see a breakout from the previous channel. Though, it can only go so far because most of the buying volume occurred at the top of the last push (figure 3 - the blue volume bars). That is creating a bit of resistance even though it looks like ADA wants to break further. By Friday I'm sure it will have consolidated further and be...

mysticalwalrus Updated 

As we can see ADA is consolidating yet again in preparation for Friday's announcement of the Cardano Alonzo smart contract rollout date. I expect ADA to consolidate until Friday, then breakout in a big way. Obviously this breakout is not going to be as extreme as the Alonzo release date breakout, but it should be substantial enough considering ADA moved upward on...

mysticalwalrus Updated 

Now that there was an initial push upward through the channel, you should expect a pullback and further consolidation which I have mentioned on the chart. I expect it to pullback and consolidate before the announcement of when the smart contracts go live. The announcement should be on Friday 8/20. I expect the price to push up further after the announcement and...

mysticalwalrus Updated 

ADA looks like it is consolidating for a further push higher. I am guessing this is going to happen around Friday 8/20 when the date of smart contracts are announced. I was hoping for some crazy pullback to 1.77 but I doubt that is going to happen with the announcement around the corner. The date of the ADA summit is Sep 25-26 and the smart contracts are coming...