GTWCA-34 | Correcting!
Again. Dearest friends.
I am Gandalf The White & this is my opinion on the crypto market situation - looking at btc and ada.
BTC
Those Elliott Waves - up and down. Well, looks like the first wave could be over and hopefully the second wave doesn't last too long either because the second wave is the current wave and this means that we are in a small correction, at least should be.
So, btc decided to correct and go down. Bulls are gathering. We didn't pass the 9k$ mark but we got below 7k. I hope and kind of think that xbt does not drop too much now but there still is potential to drop around the 6k area. We will see, as always my dearest friends.
Currently we're around 7k - decreased by ~1k$. Last week we've nearly been at the top of the cloud, today we are at the bottom of it lol. That went fast, that's how it goes - btc's volatility. We are under the 618.
Tradingview chart - XBT/USD, daily, Kraken - one month ago:
Click on any image for a bigger version of it
Three weeks ago:
Two weeks ago:
Last week:
Today:
Again, pretty the same graph as last time, only the red dashed line has been adjusted - to the new last high.
Furthermore, simply forget the bear trap; it is completely irrelevant for us because of its timeframe. I should have stopped mentioning it a while ago.
However, right now we need the graph to stay beyond the green support line and break through the red dashed resistance. After that btc needs to go through the high(er) green resistance line - when this took place the bull market finally is approved being back.
Btw. quite interesting side information: The last seven candles had been red/bearish; maybe we will see eight red candles. I doubt that but it still could happen; this too would mean that the next bullish wave is going to be intense - at least very likely. Concerning the Kraken chart this never had happened before. Only six red candles as far as I know.
ADA
This coin suffered a lot (too), again.
Current price: ~0.13$ - decrease by around 0.03. It is under the cloud.
Good news - at least for me -, so actually just fyi: Last post hadn't been disliked by anyone - maybe they really realized that I am not a thief or anything like that. I'm not faking or stealing content my dearest friends, you know that, I guess. I will just say "Thank you @steemcleaners" - although I am a little ignorant.
Btw. you might check out @solominer's video about some Steemit tips - I am in there too (thx bro): https://steemit.com/steemit/@solominer/ls6wsqm8.
Bot, after this correction it should get pretty great. So we still have to be patient and wait for more bulls! :P
Yours truly,
Gandalf The White
PS: Sorry for my bad Persian.
I'm not a qualified financial advisor & this post is just for educational/informational issues; only my opinion. Always do your own research.
#gtw #gtwca #gandalfthewhite #cryptoanalysis
#cryptocurrencies #cryptos #alternativecoins #altcoins #alts #cryptomarket #cryptocurrencymarket #cryptocurrencymarketanalysis #steemit #money #blockchain #trading #hodl #tlotr
#ada #cardano
Thanks for the analysis bro! I hope we don't see the 8th consecutive red candle though. Haha..
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Np (:
Yeah, me neither but unfortunately another red candle doesn't even seem too unlikely.
It would be perfect if btc rises coming week to around 7.5k$ and then drop again to around 7k, little lower. After that it should reach the 10k area.
Btw. we generally are in a huge and very important support area - it reaches from about 6k (few hundreds lower) till ca. 8k$ (bit higher). It sustained/held the last three respectively four times - so it's nearly "impossible" to not hold again, I'd say. We will see anyway haha.