Alright, so I've been following some people on tradingview and I've been watching how they do their TA of different crypto and I thought I would give it a shot and see if I can predict a future based on previous events. Thought I would start off with Caradano aka ADA.
Here we can see a daily chart of ADA with some indicators. We have moving average, MACD, RSI and at the bottom ADX and DI.
Too many indicators? :) well just wait, more is coming :)
Anyways we can see at 27.november that our moving average crossed and it pretty much hasn't come back, it was close 14 December and after that, it took off with some incredible uptrend. I missed these signals and wasn't all that into TA... now I regret it but what's done is done, learn and move on.
Allright so we are moving on to our 1 hour chart.
Looking at 1 hour chart we can see that we have an upper trendline and lower upper trendline. They are all indicating that we are moving up even if we have some pullbacks. That is very good :)
If we look quickly on hour daily chart we can see that RSI is overbought with a lot and that is majorly reason for a pullback that started on 4th january.
So that is creating a downwards trend inside an upside trend. As we can see on horly chart it seems to be respecting trendlines but is now coming to an end where it either needs to break up again or down.
Looking at other indicators right now we had an crossover on moving avarage yesterday and that white line is staying bellow red, at this writing moment it's actually moving away from the red line witch could indicate that we are going to see more of a down trends. We can also see that MACD lines are almost crossed witch could also suggest of an down trend. RSI is fine on hourly chart but is just on a border of being overbought on daily chart. We can also see that ADX is moving bellow 20k and that negative D- is taking over D+ witch is another indicator of a negative trend...
So that's pretty much what I have for you guys, my inidaction is telling me that we are going to see some more correction or negative trend before it starts to move up again. PS! I'm not a finicial advisor you have to make up your own mind or if you have another theory please comment :)
Please upvote me and I will do more tech analsys :)