Important Things to Note:
BTC is flat out unstoppable. Despite any divergence or patterning, the FOMO is real and the buying is undeniable.
This makes it extremely hard to predict the altcoins that follow it closely.
Watching ADA consolidate for 3 days has been painful.
From the last double bottom reversal, ADA looks like it is flagging.
The coil it is forming is a sure sign heavy consolidation is happening.
There is a little hidden bullish divergence but its very hard to tell because the bottom is so small.
If the pattern holds, we will see a push to the target from the flag to 2.62.
This pattern makes sense and is backed up by similar targets I have found.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
So, I am finally back, with power and internet for now. It has made trading extremely difficult. However, I was able to take a good look at ADA. The way I see it, BTC FOMO is too strong, it has no intentions of slowing down, but I am wary about the next higher low that is coming (46-47K). For now, altcoins that follow it like ADA are hesitant to move and are consolidating mostly. If BTC continues this path, and why should we expect it not to at this point, I see ADA finishing its flagging pattern and breaking out with a move to 2.62. Set your alert for the top of the consolidation trendline and the bottom. If BTC decides to all of a sudden create its higher low, I might finally see the 1D double bottom I have been wishing for, which seem like forever now. You can see the double bottom that formed on the 4 hour which was the trend reversal. This puts the bull flag continuation pattern into play. I told you originally that the altcoin momentum will lag behind BTC and that still stands. All the money I have been making in quick trades with smaller coins I have been funneling into my long term investments. This should pay off greatly when they start to really move. As always, I will keep an eye on things and continue to update you all on ADA. Thanks again everyone!
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 is flat out unstoppable. Despite any divergence or patterning, the FOMO is real and the buying is undeniable.
This makes it extremely hard to predict the altcoins that follow it closely.
Watching ADA consolidate for 3 days has been painful.
From the last double bottom reversal, ADA looks like it is flagging.
The coil it is forming is a sure sign heavy consolidation is happening.
There is a little hidden bullish divergence but its very hard to tell because the bottom is so small.
If the pattern holds, we will see a push to the target from the flag to 2.62.
This pattern makes sense and is backed up by similar targets I have found.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
So, I am finally back, with power and internet for now. It has made trading extremely difficult. However, I was able to take a good look at ADA. The way I see it, BTC FOMO is too strong, it has no intentions of slowing down, but I am wary about the next higher low that is coming (46-47K). For now, altcoins that follow it like ADA are hesitant to move and are consolidating mostly. If BTC continues this path, and why should we expect it not to at this point, I see ADA finishing its flagging pattern and breaking out with a move to 2.62. Set your alert for the top of the consolidation trendline and the bottom. If BTC decides to all of a sudden create its higher low, I might finally see the 1D double bottom I have been wishing for, which seem like forever now. You can see the double bottom that formed on the 4 hour which was the trend reversal. This puts the bull flag continuation pattern into play. I told you originally that the altcoin momentum will lag behind BTC and that still stands. All the money I have been making in quick trades with smaller coins I have been funneling into my long term investments. This should pay off greatly when they start to really move. As always, I will keep an eye on things and continue to update you all on ADA. Thanks again everyone!
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:
Watch for the 3rd bottom in that consolidation pattern, I see 2 right now.
Comment:
So it's that time again, I am hearing people say altcoins will get destroyed when BTC starts pushing for ATH. Are you going to hedge your portfolio with BTC? Let me know!
Comment:
Ok everyone, I am about to head to bed and try to get this mythical thing called sleep. I hope you guys set your alerts! Goodnight everyone!
Comment:
Last push denied at resistance, forced back into consolidation pattern.
Comment:
If you look, there is a flag within a flag, again another example of patterns repeating at smaller intervals.
Comment:
Being able to spot patterns, trends, signals and confirmation is key to making money while investing. They will not all work out, but having the ability to see them when they occur is the most important aspect. This is why I post. I want you to be able to see what I am seeing. By the looks of it, some of you are already learning to spot things quickly. This is important because you do not want to be stuck following the calls of someone else, while you sit there unaware and at their mercy. If I followed other people, I would not have played the trend reversal signal I saw and made money in the smaller coins. I would have been sitting there thinking BTC was going to 38k like everyone else, then by the time I noticed the trend change, entering the smaller coins would have come with more risk. Hopefully, you realize how important it is for you to learn. I encourage everyone to start charting. Do not worry about being right or wrong at the beginning, you will get better over time. The important thing is that you practice and learn as soon as possible.
Comment:
Take a look at SOL, I see a potential double bottom. However, you must also look at RSI, MACD, VOL, wicks, etc and see if things line up.
Comment:
Then look at the big picture. If there was a double bottom, and you get upward momentum, what pattern would be created? I see a cup and handle. If you see the pattern will complete, you know its safe to enter. However, some people will enter at the bottom of the handle as well, but that is more risky than waiting for the handle to form.
Comment:
Now take a look at RSI, is it oversold? overbought? Look at all the timeframes. Is there divergence? Yes, there is hidden bullish divergence for about a week now. Does this back up my possible double bottom scenario, yes. Does it fall in line with a cup and and handle continuation? Yes. This is how you must approach your investments.
Comment:
This lets you know to add it to your watchlist after you set a downside target, and upside target and an entry if necessary.
Comment:
Do this for every crypto you see and you will likely make some money and learn a lot along the way. By the end you will have a watchlist where some patterns work out and you can enter, and others do not, and you can take them off of your watchlist. This is how I approach it.
Comment:
How you should be viewing altcoins for the next couple weeks. Maybe a pullback due to BTC, minor upward momentum, mostly consolidation. Do not be shocked to see your favorite alt did not moon right when BTC started it upward move, because that is not how it works. You will not see an ATH until after BTC makes its ATH and retraces. All you will see is slow movement upward, and consolidation over and over again. This is going to be needed for the upward run they will making soon enough. If you are frustrated about this, you shouldn't be because it is always like this, and you can expect a high future return is a rather little amount of time. Therefore, there is little to be upset about. I don't think this pertains to the vast majority of my followers but it should be said just incase: if you are running altcoin/BTC pairs, get out now. That is not a good idea right now.
Comment:
Going back to SOL, let's say you added it to your watchlist and noted all the information you needed. But you were waiting to enter. You would look at the hammer forming with the long wick. This would tell you it is best to wait for the formation of the handle before entering. This is the thought process you should be using. Look at each candle, each wick, each signal, each pattern, each indicator over and over again to form your opinion. The market shifts quickly, you need to be able to do the same.
Comment:
Ok that's it for the lesson today LOL. I am going to bed early. There is not much going on and so far this week was pretty good to me. Goodnight everyone!
Comment:
And awayyyyyyyyyyyy we go!
Comment:
3 lower lows, followed by the flip. 3 drives pattern. Remember when I said it was a very powerful pattern that is rarely ever used? This is why.
