Hello friends!
I've been wanting to do a new macro analysis since the May 16 ATH. Until now I was not feeling confident enough in the indicators to call a bottom or project the next leg of the bull cycle.
In this video, I discuss the following -
From the analysis I conclude the following are likely (not a guarantee) -
Expect that there will be one or more price spikes followed by retracements of up to 50% between now and the peak. Thus, managing risk is essential as always.
Finally, consider DCA investing along the way, as this is a commonly successful means of increasing gains over months and years.
Good luck and good fortune!
I've been wanting to do a new macro analysis since the May 16 ATH. Until now I was not feeling confident enough in the indicators to call a bottom or project the next leg of the bull cycle.
In this video, I discuss the following -
- Indicators of the bottom that has formed and bullish outlook
- Discussion of how I determine and analyze trend lines over the past 3 years
- Analysis of the shape and timing of the return to sustained upward momentum in the 1 week chart
- Forecast of the next bull leg upward
From the analysis I conclude the following are likely (not a guarantee) -
- The next leg up and new ATH is likely later this month between July 26 to August 2, but may start earlier
- I expect ADA to test 3.00 in the same July 26 to August 2 timeframe
- The peak of the next leg up (final in this cycle?) may be around late November
- I retain my forecast of around 4.45 for a peak price, but now consider that a likely minimum
- ADA has a strong chance of exceeding this minimum and reaching a target of 6.63, which is my revised target
- A peak (even if temporary) of 8.00 to 9.00 is possible
- Support will likely be at 3.00 if upward momentum is lower than expected
Expect that there will be one or more price spikes followed by retracements of up to 50% between now and the peak. Thus, managing risk is essential as always.
Finally, consider DCA investing along the way, as this is a commonly successful means of increasing gains over months and years.
Good luck and good fortune!