ADA 4hr Chart update
At the moment of typing this, the price is back above its Schiff Pitchfork Median Line. ADA needs to close a 4hr candle above this level and turn it into strong support.
ADA is in the Bearish Zone of the Ichimoku Cloud for this timeframe.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is downwards. ADA needs to eventually close a 4hr candle above this level and turn it into strong support.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is sideways. ADA needs to eventually close a 4hr candle above this level and turn it into strong support.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is downwards and the tip is under the price from 30 periods ago & is inside the Equilibrium Zone.
ADA needs to cross back above into the Equilibrium Zone and turn the Leading Span B (Senkou Span B) into strong support to then attempt to get over the Leading Span A (Senkou Span A) resistance and turn it into strong support so it can continue upwards in the Bullish Zone.
The Chaikin Money Flow (CMF) is indicating a sharp rise in accumulation with the CMF at 0.23.
The Average Directional Index Directional Movement System (ADX DI) is indicating negative momentum is strong with the -DI (Red Line) at 37.6 above its +DI (Green Line) at 11.6. The ADX (Yellow Line) is at 32.6 above its 9 Period EMA (Black Line) which is at 27.5.
I haven’t added it to this chart but ADA is below its Bollinger Bands Middle Band Basis which is a 20 Period SMA. ADA needs to close a 4hr candle above this level and turn it into strong support.
I hope this is helpful with your trading and hodl-ing 🔥🚀🌍🌔🪐🛸👽
So is this the end? Nah. The news & media will have you believe that this is the end, but do a little digging & you’ll notice that crypto is becoming more and more mainstream everyday and even companies like Wells Fargo are going through the motions to bring Crypto to their rich clients. We should expect more drops like this in the foreseeable future because it doesn’t take much to control the direction of crypto market & these drops will be what the market makers want to happen to accumulate millions & billions in a single day. Also i thought China had banned crypto wayyyy back in 2019 🤷♂️ maybe everyone else forgot 🤣. This was a massive shakeout but its certainly not the end and as i keep saying, we are still very early and this is not 2017/2018 retail investor speculation! This is the market maker big boys trying to make you sh*t your pants and lose your wife's life savings. If I would've panic sold earlier at the bottom, i'd be kicking myself in the bollox right now because i would've lost out on my accumulation and would've ended up with less coins. 👍
Also well done if you managed to buy ADA back around $1.01 👍
At the moment of typing this, the price is back above its Schiff Pitchfork Median Line. ADA needs to close a 4hr candle above this level and turn it into strong support.
ADA is in the Bearish Zone of the Ichimoku Cloud for this timeframe.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is downwards. ADA needs to eventually close a 4hr candle above this level and turn it into strong support.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is sideways. ADA needs to eventually close a 4hr candle above this level and turn it into strong support.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is downwards and the tip is under the price from 30 periods ago & is inside the Equilibrium Zone.
ADA needs to cross back above into the Equilibrium Zone and turn the Leading Span B (Senkou Span B) into strong support to then attempt to get over the Leading Span A (Senkou Span A) resistance and turn it into strong support so it can continue upwards in the Bullish Zone.
The Chaikin Money Flow (CMF) is indicating a sharp rise in accumulation with the CMF at 0.23.
The Average Directional Index Directional Movement System (ADX DI) is indicating negative momentum is strong with the -DI (Red Line) at 37.6 above its +DI (Green Line) at 11.6. The ADX (Yellow Line) is at 32.6 above its 9 Period EMA (Black Line) which is at 27.5.
I haven’t added it to this chart but ADA is below its Bollinger Bands Middle Band Basis which is a 20 Period SMA. ADA needs to close a 4hr candle above this level and turn it into strong support.
I hope this is helpful with your trading and hodl-ing 🔥🚀🌍🌔🪐🛸👽
So is this the end? Nah. The news & media will have you believe that this is the end, but do a little digging & you’ll notice that crypto is becoming more and more mainstream everyday and even companies like Wells Fargo are going through the motions to bring Crypto to their rich clients. We should expect more drops like this in the foreseeable future because it doesn’t take much to control the direction of crypto market & these drops will be what the market makers want to happen to accumulate millions & billions in a single day. Also i thought China had banned crypto wayyyy back in 2019 🤷♂️ maybe everyone else forgot 🤣. This was a massive shakeout but its certainly not the end and as i keep saying, we are still very early and this is not 2017/2018 retail investor speculation! This is the market maker big boys trying to make you sh*t your pants and lose your wife's life savings. If I would've panic sold earlier at the bottom, i'd be kicking myself in the bollox right now because i would've lost out on my accumulation and would've ended up with less coins. 👍
Also well done if you managed to buy ADA back around $1.01 👍