ADAUSD What To Expect Next

3 янв. 2022 г.

Important things to note:

BTC is sitting in no mans land between 42k and 53K.
BTC is below 50W MA (Short term bearish).
ADA hit previous target perfectly then was rejected due to BTC.
ADA has a few places to go.
Right now it can be assumed ADA is following BTC to next support.
If BTC goes to 45.5 ADA will head to blue support line.
If BTC goes to fill 42k wick, ADA will head to blue support zone.
If BTC goes to 53, ADA will test yellow resistance zone.
Chinese sell off is done. Market reopens this week.

Important dates to note:

Evergrande payments (largest payment of 2.1B due March 23, 2022).

So to start, the Chinese sell off is done and accounts closed. The market opens this week and all though retail has been buying much of this recent dip, historically since the 29k sell off, institutions have dominated BTC. BTC is currently in no mans land and while it is sitting between 53k and 42k, its direction is highly unpredictable. Bears will wait for 42k and bulls for 53k. It is currently sitting below the 50W MA which is short term bearish. However a successful retest of 45.5k will result in a double bottom reversal signal. That being said, if BTC decides to go to 45.5k (where it looks like it is heading at the moment), ADA will go to the blue support line for a test. If BTC heads below to partially fill the 42k wick, ADA will go to blue support zone for test. If BTC heads upwards to 53k, ADA will go to the yellow resistance zone for a test. Though my last target was hit perfectly, the test of resistance failed due to BTC falling and here we stand. Remember that the tests of support and resistance by BTC will correspond with the tests of support and resistance for ADA. A good note is that though BTC has been rather bearish since the last giant liquidation, ADA held its own and found a strong support level. It is also worth mentioning that open interest levels are extremely high. This means a large movement is likely to take place, but it is too hard to determine in which direction it will go at the moment. I have been DCAing since the liquidation event into good opportunities and I will be posting some of those this week. Thanks again everyone. Happy New Year!

So, tell me what you think!

This is not financial advice. Do your own due diligence.

3 янв. 2022 г.

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Before anyone asks, by "Market reopens this week", I mean the derivatives market. CME for example. BTC is not going anywhere meaningful while it is closed.

3 янв. 2022 г.

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Another thing to mention. Regardless of BTC being in limbo, you should still consider this a bull market. Breaking 42k would be the first very bad indication of a potential bear market ahead. This is because that is where the bears will enter in full force and bulls will have to fight very hard to stop them. So while we are above that, I am DCAing entries into assets I currently do not have in my portfolio. I am doing this because I am assuming a bull market due to the data I see in front of me.

3 янв. 2022 г.

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Also, the closer we get to 42k the more you will see people freak out. The news will likely be terrible, and everyone you will talk to about crypto in general will likely have nothing positive to say. Try to remain calm because it's at these times where you can find the best buying opportunities. I actually use this myself as an emotional alarm. When I hear nothing positive, and we are in a bull market, this is when I assume a strong bounce will occur soon.

3 янв. 2022 г.

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I have been hearing more and more interest about ADA from people with large amounts of money. Especially around the current prices. This should not surprise you considering ADA has held a strong bottom during this recent accumulation period we are in now and they were likely the ones buying at those levels. ADA is slow in terms of development, and they are just getting started. I know there is a lot of discontent surrounding ADA, mostly from retail who feels they either had opportunity costs by dumping all of their money into ADA and not diversifying or by buying the top and bag holding for awhile. Just know the way they are feeling is their own fault and not the fault of ADA. I have preached about diversification in the past, patience, and DCAing dips in the past. No one should be blaming a company for the retail investor's inability to invest correctly. Investing should not feel as though you are playing the lottery. If this is you, only expanding your knowledge in regard to investing will set you free.

3 янв. 2022 г.

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I should also mention that it is fine to make mistakes and learn from them. That is the process of moving forward. Learning is the key.

4 янв. 2022 г.

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ENS, AVAX, KDA, ONE, CRV, FTM, etc looks good and all. But imagine getting in on ICP when I called I posted that chart at the accumulation period bottom.

4 янв. 2022 г.

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Well I missed the mark on the 45.5K BTC touch by 1 cent on ADA chart. LOL cant be right every time I suppose.

4 янв. 2022 г.

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Everyone talking smack on ADA are going to eat their words in the next few months.

4 янв. 2022 г.

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Looking at the derivatives market, you can see big orders trying to push the price of BTC to start a liquidation in order to fill orders stuck at the wick. Unfortunately, they did it so blatantly they are bound to be hunted.

5 янв. 2022 г.

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They have pushed the price and broke support to fill wick, luckily for you, you know what to expect.

5 янв. 2022 г.

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Thanks BTC for another MATIC entry. I was waiting for this.

6 янв. 2022 г.

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Queue the panicked and angry comments because "red bar" lol. Literally, every single time. These are the people that buy when I sell.

6 янв. 2022 г.

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Funding rates did not flip negative. In fact it barely moved the needle in terms of open interest. What that tells me is there were far more shorts on the books than longs. Either way, the volatility isn't done yet. If there are a strong buildup of longs that somehow did not get killed already, I am buying everything LOL (not a joke).

6 янв. 2022 г.

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I like to quote Warren Buffett quite often. Especially when he said "you must be greedy when others are fearful and fearful when others are greedy" and "Rule number one: Don't lose money, Rule number two: Don't forget rule number one."

I practice this wholeheartedly. I am known to buy in bulk during the scariest crashes (March 2020) and known to sit on an underwater trade literally forever if I have to unless I am writting it off on purpose. I am a machine when it comes to how I trade. I control my emotions very well. In fact, the only time you will probably see me get emotional is when I have unfilled orders sitting in the books. LOL.

This is why you are seeing me post buying opportunities right now. Because this is what I am doing. If you are overexposed, do not buy. Learn to take more profit or keep cash on hand for times like this. I know it doesn't ever feel like the assets will reach lower levels during an uptrend, but it is very common so it would be wise to have at least 20% cash on hand.

7 янв. 2022 г.

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The capitulation is real right now.... goooood goooood.

7 янв. 2022 г.

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(Not for ADA tho) :)