ADA to 17k sats

On the above 3-day chart price action has corrected almost 70% since the sell signal back June 2021. Ever since price action has been in a downward channel. A number of reasons now exist to be bullish, including:

1) A strong buy signal. Look left.

2) Price action breaks out of Bull flag and confirms support on past resistance.

3) Price action bounced off the golden ratio.

4) The flag pole extension measures a 780% move to 17k sats.

5) On the 10-day chart a text book Cup and Handle formation has printed (below).

Is it possible price action falls further? For sure.

Is it probable? No

Ww


Type: trade
Risk: <=6% of portfolio
Timeframe: 3 to 9 months
Return: 7x





10-chart cup n handle

Trade active:

Pi-cycle bottom illuminates as price action bounces off the 200-week SMA

Comment:

There is no certainties only probabilities. However the Bitcoin pair for ADA is suggest a large move may be very near:

The buy signal + Pi-cycle bottom alert with RSI +50.

Ask for updates below, I'm not trading this.

Comment:

Price action breaks past resistance, should be an interesting month.

Trade active

Comment:

The GRM is showing support (yellow dotted line) as hidden bullish divergence prints. Expect upward oomph in the weeks ahead.

Comment:

So Cardano fan boys (and girls), the move you've all be waiting for is near. This move will be explosive. Huge.

On the 2-day chart below price action has tested resistance repeatedly. The sellers are utterly exhausted at the same moment the sentiment is the most bearish it has ever been.

When this resistance breaks a 50% move will print out of the gate. Jaded sellers and skimpers will take profits causing a mini pullback before a 150% upside move prints.

Be patient.. don't react, be calm and ask me below if you're not certain.

Comment:

Lucky number 5!

Trade active:

Breakout out of resistance -

Trade active:

Comment:

breakout confirmed

Trade closed manually:

Closing this idea for the moment. There's been a significant change in market structure, I don't like it. Not one little bit.

Shout out to fellow Patron for bringing it to my attention.

Comment:

A number of messages asking if this idea is valid again. Sorry, but no. I would like nothing more than to tell you the opposite is true, however that would be emotion.

The observation made in the last update referred to the change in market structure. The structure is confirmed and is bearish, very bearish.

On the weekly ADA/BTC chart below:

1) A bear flag confirms

2) RSI resistance remains intact. This resistance could remain until 2025.

3) The bear flag extension projects a 70% correction.

Until the RSI resistance breaks there’s not a lot that can be done.

Ww

Weekly

Comment:

relief rally imminent, look left