& again! My dearest friends
I am Gandalf The White and this is my opinion concerning the crypto market situation – particularly btc and ada.
BTC
My dearest friends, Bitcoin is still consolidating just as last week (and so are most other coins). Btc simply is tightening, kind of, it's getting tighter and tighter. Xbt is probably slowly getting ready for the breakout of the triangle we're currently in (hopefully upwards towards 10,000$ although it's "pretty likely" to drop at first and form a bear trap and then go to the 10k$). Hence, we're 'once again' waiting for an obvious bullish impulse and hopefully won't be waiting too long - probably some more weeks; in the #gtwca 40 I wrote that bitcoin presumably will need around six weeks to reach ~10k, two-four weeks to go although this could get very close.
Furthermore, I really hope we're in the third bullish elliott wave. Our support is still holding, for now, and well, all in all the last ta is still relevant/current.
For the fourth time btc is worth around 6.5k$ - little decrease by few tens. Under the cloud. Under the 618.
Tradingview chart - XBT/USD, daily, Kraken - one month ago:
Click on any image for a bigger version of it
Three weeks ago:
Two weeks ago:
Last week:
Today:
Today's chart is pretty the same as in the last #gtwca - apart from the new candles etc.
Generally pretty everything stayed the same as last week - we want to get to that cloud, through that cloud, be above that cloud, stay above the support line and stay above the red dashed line.
ADA
Nothing too extraordinary happening here. This coin looks still exhausted but it seems like it's recovering a little. No lower low. I'll give it some more time, again.
Ada is worth about 0.08$ - one cent lower than in my last #gtwca. Under the cloud, naturally.
Finally, the small 'summary' of this post and our previous month. Unfortunately, our chart did not jump to the 7.5k area. Instead it pretty much stayed the same. We want to go through the cloud (and be in the third wave).
My words few weeks ago "Hopefully September will be more bullish than it is right now.". Ouch, you definitely can call that a not very bullish month, no success, I guess. Maybe this month? I hope so but I am a tiny bit skeptical towards this scenario haha.
Anyway, my friends, you know what I am about to say: Let's wait and see, hope for the best and - as always - stay smart and do not do anything hasty! (:
Yours truly,
Gandalf The White
PS: Sorry for my bad Igbo.
& I’m not a financial advisor - everything here is for educational/informational purpose; only my own opinion! Always do your own research.
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