ADAUSD: Making Transition From Phase D to Phase E - PATIENCE...
Hi Everyone! We are entering a period in which the Market Makers are attempting to "shake-out" weak hands before moving up significantly. Do NOT give cheap Cardano to them! Do NOT lose faith! Yes, we may see Bitcoin continue falling (stair stepping down). However, we will watch ADAUSD begin Stair Stepping Up Up Up in time frames lower than this 12-Day time frame. This is my opinion of course. I'm NOT budging! I'm holding steady! This publication is labeled a "Long" opinion for what I'm seeing in the higher time frames. Do not assume I'm referring to the current climate in the lower time frames. We are currently experiencing a shake-out before a significant move up in my opinion.
Here's an image of what occurs in our transition from Phase D to Phase E: i.imgur.com/dCfs8eg.png
Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply.
This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, as well as
reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the
top of the Trading Range. The BU/LPS (Back Up/Last Point of Support) in this phase is an excellent place to initiate or add to profitable long position.
Phase E: In Phase E, the asset leaves the Trading Range, demand is in full control and the markup is OBVIOUS to everyone.
Setbacks, such as shakeouts and more typical reactions, are usually short-lived. New, higher-level Trading Ranges comprising
of both profit-taking and acquisition of additional coins (“re-accumulation”) by large operators can occur at any
point in Phase E. These Trading Ranges and Last Point of Supports occurring in Phase E for a year or more are sometimes called “stepping stones” on the way to even higher price targets. Which ultimately transitions into a euphoric stage of exponential growth at its peak of a Buying Climax.
This information is from school.stockcharts.com website.