ADAUSD ascending Channel Creates Basing Pattern
Important things to note:
BTC Flagging for another push.
Altpairs led by ETHBTC are starting to move.
ETH completed IH&S and moving up, alts will follow once bullish trend established. (over 4024).
ADA is range bound in slight ascending channel.
Ascending channel creating basing pattern.
Expecting small break to downside followed by bounce.
Bounce will create 2nd part of cup.
Cup pattern will be base for future targets.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Hey everyone! Today will be quick because there is not too much going on. Btc is flagging for another push upwards. Altpairs led by ETHBTC are gaining steam and looking great. I have told you in the past, big investment money is rotating into alts for the coming altseason. I know this for a fact. ETH completed IH&S pattern like I mentioned before and it is starting to move. I figure alts will follow slowly once it closes above 4024. ADA is currently range bound in a slight ascending channel. This is great because you can see it is forming its basing pattern. I expect a break but I do not think it will be too dramatic. I think there will be a nice bounce off of support from the break which will create the 2nd half of the cup pattern. This is very important because the cup can easily turn into a cup and handle and be used for future major targets. This is what I am looking for at the moment. The worst case scenario for all of this like I said before would be a move to the diagonal support and a brief touch of the 200MA but that doesn't seem likely right now. We will take it day by day and see what happens. Well, that's it for today! Thank you all for the support and if you have any questions let me know. I will continue to watch ADA and update you all accordingly. Cheers!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
BTC Flagging for another push.
Altpairs led by ETHBTC are starting to move.
ETH completed IH&S and moving up, alts will follow once bullish trend established. (over 4024).
ADA is range bound in slight ascending channel.
Ascending channel creating basing pattern.
Expecting small break to downside followed by bounce.
Bounce will create 2nd part of cup.
Cup pattern will be base for future targets.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Hey everyone! Today will be quick because there is not too much going on. Btc is flagging for another push upwards. Altpairs led by ETHBTC are gaining steam and looking great. I have told you in the past, big investment money is rotating into alts for the coming altseason. I know this for a fact. ETH completed IH&S pattern like I mentioned before and it is starting to move. I figure alts will follow slowly once it closes above 4024. ADA is currently range bound in a slight ascending channel. This is great because you can see it is forming its basing pattern. I expect a break but I do not think it will be too dramatic. I think there will be a nice bounce off of support from the break which will create the 2nd half of the cup pattern. This is very important because the cup can easily turn into a cup and handle and be used for future major targets. This is what I am looking for at the moment. The worst case scenario for all of this like I said before would be a move to the diagonal support and a brief touch of the 200MA but that doesn't seem likely right now. We will take it day by day and see what happens. Well, that's it for today! Thank you all for the support and if you have any questions let me know. I will continue to watch ADA and update you all accordingly. Cheers!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Comment:
Hidden bullish divergence on the 1H, bounce will be minor. But more consolidation bound in range.
Comment:
There's the little tiny bump we are getting from divergence.
Comment:
BTC stopped at 59,999. How many people had orders in at 60k? LOL.
Comment:
From James Seyffart (bloomberg intelligence)
Bloomberg's data team in the process of adding the ProShares Bitcoin Strategy ETF to the terminal. Ticker will be $BITO. 95 bps -- less than half $GBTC's 2% fee. This thing is going live next week. Either Monday or Tuesday.
Also should add that
ValkyrieFunds has filed their 8A which essentially registers a security for trading on exchange. Nothing from proshares on that front yet. So Valkyrie almost certainly going to begin trading next week as well if i had to guess.
Still waiting to see/hear something from InvescoUS who also could launch a product next week. That said. I'm still not 100% convinced until i actually see this thing live and trading on the exchange. haha
Bloomberg's data team in the process of adding the ProShares Bitcoin Strategy ETF to the terminal. Ticker will be $BITO. 95 bps -- less than half $GBTC's 2% fee. This thing is going live next week. Either Monday or Tuesday.
Also should add that
ValkyrieFunds has filed their 8A which essentially registers a security for trading on exchange. Nothing from proshares on that front yet. So Valkyrie almost certainly going to begin trading next week as well if i had to guess.
Still waiting to see/hear something from InvescoUS who also could launch a product next week. That said. I'm still not 100% convinced until i actually see this thing live and trading on the exchange. haha
Comment:
A corrective move is coming with ETHBTC (and other altpairs obviously). This should be the last move before altseason begins. If you want to time how alts are going to move, like I said before look at ETHBTC. You will see BTC.D move up during this period, but it will be short lived, from there BTC.D will fall to alts. I do not see it passing 50%.
Comment:
To anyone wondering when they should get enter the market, well now would be a good time to start DCAing if you haven't. I told you before, money is slowing starting to move back into alts. This will continue for the next couple weeks at the least until alt season begins. This does not mean the price is going to remain where it is today, but that you should start entering if you haven't already. I have been purchasing through September and am moving move of my money back into alts from BTC.
I have spoke before a lot about the on chain data I look at, I can tell when the long term holders are buying/selling or moving their assets on or off chain. I can see what the retail traders are doing as well. Smart money vs everyone else. You can see what most traders do, they buy high and sell low.
And example of this would be SHIB. I entered SHIB when I saw the signal oct 1st. I entered and exited twice for a profit of 220% and walked away clean. I even mentioned it to people here. I felt like giving you guys a little something extra. For me, the risk was low and the reward was high. So what happened a couple of days after I exited? I started seeing everyone talk about on youtube and social media, people I knew started asking me about it. The thing is, by that time, the risk is high and the possible reward is high. That is not how I short term trade. I trade like smart money. I buy low on a basing pattern and a signal and sell high and I don't think about it after. FOMO will get you in trouble.
I have spoke before a lot about the on chain data I look at, I can tell when the long term holders are buying/selling or moving their assets on or off chain. I can see what the retail traders are doing as well. Smart money vs everyone else. You can see what most traders do, they buy high and sell low.
And example of this would be SHIB. I entered SHIB when I saw the signal oct 1st. I entered and exited twice for a profit of 220% and walked away clean. I even mentioned it to people here. I felt like giving you guys a little something extra. For me, the risk was low and the reward was high. So what happened a couple of days after I exited? I started seeing everyone talk about on youtube and social media, people I knew started asking me about it. The thing is, by that time, the risk is high and the possible reward is high. That is not how I short term trade. I trade like smart money. I buy low on a basing pattern and a signal and sell high and I don't think about it after. FOMO will get you in trouble.
Comment:
Uh oh Spaghetti O's... I know I haven't posted anything since things haven't change at all really. However, I have been looking at various market signals. Take a look at BTC.D and tell me what you see? Then take a look at ETHBTC and tell me what you see. I know what I see.
Comment:
Anyone that wants good fundamental metrics on their asset. Go here messari.io/
Comment:
Welp looks like I spoke too soon in terms of BTC.D. However, I still don't see it above 50%. We will see. It looks a lot like it did before back in 2018. I am a little liquid atm so I am not complaining. If it goes back to 60% I will be impressed.
