We are setting up a beautiful consolidation triangle here. The Targets set at the .236 and .618
The longer we coil in the triangle. The higher the chance we get to 50,700 (.618) If we hit 50k. It is almost certain that MSM will have field day with it and could produce a full blown feeding frenzy. Happy HODLing.
Our first higher high will be confirmed shortly on the weekly. If this is our wave 3 parabolic then I am looking for a move to the $35 dollar range before further consolidation. A close next week above $10.40 SHOULD be final confirmation to buckle up.
Obviously a lot of this will be dictated when BTC's parabolic move ends. However, a parabolic runup is definitely in play towards $30+ at some point in 2021.
I expect a breakout sometime with just 2 large resistance points (yellow lines). The blue line is showing solid support with higher lows as well. Should be a great trade this year for people looking to stack sats.
BTC setting up a 3 year cup and handle.
Short term looking for a 12,500 entry zone before the next leg up.
Hi all, ADA continues to be mired in a month long Schiff pitchfork since 6/3. I think we have a way to go before buying ADA. We will either stop around 1950 (.618) but I am predicting even a bit lower around that 1700-1800 Sats between the next two FIBS (another .618- or -.1) I give it about another week and should tap that red median line quite a few times...
ADA continues to be stuck in this downward pitchfork and looks like it will continue for the meantime. Until ADA can experience a true breakout of this pitchfork, there should be a continuing of bleeding out for this project. ADA has also fallen under crucial moving averages which also act as resistance. Definitely a nice time to look to lower your cost average...
Salt continues to hug the bottom of the pitchfork. Entry at 43329-42265 would be ideal. Should be heavy resistance at about 50000 sats.
Looks like we have one more little leg up before a more deeper correction down the line.
Nice impulse wave the last couple days. I'm predicting a bit more upside before a little bit bigger correction.