CardanoLong
ADA - update with the Ichimoku Cloud
Aktualisiert
ADA update with the Ichimoku Cloud:
Like all cryptos, ADA was affected by the massive BTC liquidation this morning. Damn those greedy leveraged traders.
ADA is back above its 50EMA. Ideally ADA needs to close this daily candle above this level which it looks like ADA will do.
ADA is still in the Bullish Zone of the Ichimoku Cloud.
During the dip, ADA dipped right down to the Ichimoku Cloud Leading Span A (Senkou Span A) support level and rebounded strongly upwards.
ADA has found support from its Ichimoku Cloud Base Line (Kijun Sen). ADA needs to eventually close a daily candle above this level and turn it into strong support.
ADA is below its Ichimoku Cloud Conversion Line (Tenkan Sen) so we need to eventually close a daily candle above this level.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is downwards.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is still relatively sideways.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sideways with the Lagging Span Tip in the Price from 30 Periods ago.
If we look at the Chaikin Money Flow (CMF), we can see that ADA is still in the accumulation zone ranging sideways.
The ADX DI SMA is indicating negative momentum has taken over with the -DI (Red Line) at 20.2 above its +DI (Green Line) which is at 17.3. The ADX (Yellow Line) is at 42.1 and still above its 10 Period SMA (White Line) which is at 37.
Longterm, ADA needs to close a daily candle above its Pitchfork Median Line and turn that level into strong support.
For many of you, this is might be your first big liquidation experience. Liquidations happen, and they happen fast, especially when greedy traders are using so much leverage that the moment the price dips below their margin, they cannot cover it & they get completely liquidated. FYI, according to bybt, over 1 million traders got liquidated with this dip. As i said in my previous BTC post, it is not the end of days and remember that BTC, ADA and many other cryptos are still in a LONGTERM UPTREND & ADA would need to drop so much more that it did today on the 1 day, 2 day, 3 day ect ect for the longterm uptrend to be reversed.
Buy the dips, but if in doubt, wait to see where & how this daily closes, because its where the candle closes that’s important for the longterm not where the candle wicks to.
I hope this is helpful with your trading and hodl-ing. Good luck 👍
Like all cryptos, ADA was affected by the massive BTC liquidation this morning. Damn those greedy leveraged traders.
ADA is back above its 50EMA. Ideally ADA needs to close this daily candle above this level which it looks like ADA will do.
ADA is still in the Bullish Zone of the Ichimoku Cloud.
During the dip, ADA dipped right down to the Ichimoku Cloud Leading Span A (Senkou Span A) support level and rebounded strongly upwards.
ADA has found support from its Ichimoku Cloud Base Line (Kijun Sen). ADA needs to eventually close a daily candle above this level and turn it into strong support.
ADA is below its Ichimoku Cloud Conversion Line (Tenkan Sen) so we need to eventually close a daily candle above this level.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is downwards.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is still relatively sideways.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sideways with the Lagging Span Tip in the Price from 30 Periods ago.
If we look at the Chaikin Money Flow (CMF), we can see that ADA is still in the accumulation zone ranging sideways.
The ADX DI SMA is indicating negative momentum has taken over with the -DI (Red Line) at 20.2 above its +DI (Green Line) which is at 17.3. The ADX (Yellow Line) is at 42.1 and still above its 10 Period SMA (White Line) which is at 37.
Longterm, ADA needs to close a daily candle above its Pitchfork Median Line and turn that level into strong support.
For many of you, this is might be your first big liquidation experience. Liquidations happen, and they happen fast, especially when greedy traders are using so much leverage that the moment the price dips below their margin, they cannot cover it & they get completely liquidated. FYI, according to bybt, over 1 million traders got liquidated with this dip. As i said in my previous BTC post, it is not the end of days and remember that BTC, ADA and many other cryptos are still in a LONGTERM UPTREND & ADA would need to drop so much more that it did today on the 1 day, 2 day, 3 day ect ect for the longterm uptrend to be reversed.
Buy the dips, but if in doubt, wait to see where & how this daily closes, because its where the candle closes that’s important for the longterm not where the candle wicks to.
I hope this is helpful with your trading and hodl-ing. Good luck 👍
Anmerkung
Quick 1hr Chart ADA update with just the Ichimoku Cloud and what to look out for:At the moment of typing this, ADA is testing its Leading Span A (Senkou Span A) cloud resistance which is now below the Leading Span B (Senkou Span B) level because we had a Kumo Twist which turned the cloud red, once ADA closes a 1hr candle back in the Bullish Zone and moves up, then we'll get another Kumo Twist into a green cloud where the Leading Span A (Senkou Span A) will be on top again.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is back above the Base Line (Kijun Sen) and ranging sideways.
The Ichimoku Cloud Lagging Span (Chikou Span) is still in the price from 30 Periods ago but it look like the tip is making its way upwards
Crossing back over the Equilibrium Zone and back into the Bullish Zone will be a very good sign that upwards momentum is returning strong to these lower timeframes.
I hope this is helpful. Good Luck 👍
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.