interesting charts – occasional blurb
This is a great chart originally here => https://twitter.com/GertvanLagen/status/1435224986327949312?s=20
Targets are 5666 or 5734.
Here’s another interesting chart.
The move up off the spring low in 2020 at 2191.86 to the major high at 3588.11 was 1396.25 points.
When 1396.25 is added to the 4278.94 low from 5th October 2021 we get 5675.
We will be on alert in case we see the market around those levels in early January 2022…
Into the area which would be expected to produce support. A low here would set up a retest of the secondary high around the 450 area.
Market has probed long term volatility channel and lower edge of gradient channel from August low. Expecting consolidation for several days before resuming uptrend into month end.
Given the energy level in this market and the energy on the downside displayed in other pairs over the period of this decline, further weakness back to the intermediate channel area around 73.24 sats area would not look out of place. In general, a lengthy period of consolidation, possibly extending to a month, between 73.24 to 94.45 sats would be the general expectation. Scavenger bids around 66 to 65 sats area.
Decline rejected by the area which produced the highs between May & July. Consolidation between 69727 and 84045, followed by resumption of ADA strength during second half of September, would set up test of 115108 into early November.