I wanted to do this video to try and provide some guidance for all of us going into this weekend, especially in context to potential resistance. Why we should be careful why we should optimistically enjoy the little the little green candles that were getting? I want to start here on the bitcoin chart. This is a six hour were going to pivot to cardano later in the video, so heres bitcoin. On the six hour, the reason this is important is this is just beginning to play out. This is the video i did june 22nd a couple days ago: uh bitcoin, just over twenty thousand dollars. We were tracking this inverse head and shoulders with a downward sloping. Neckline. The possibility for this the reason why this is kind of an important play is not so much hey potential. You know bullish reversal. It plays into the the bullish rally, uh sentiment that everybodys kind of beginning to get, especially when we look at traditional markets. This is a headline from literally you know. 15 minutes ago, dow jones jumps in broad rally: uh s, p 500 index nasdaq, along for the ride, weve been talking about this potential rally that markets get, and you can just see s p 500 index from the swing low up around six to seven percent, which Is a good deal for them? The reason why we want to be careful with bitcoin, with altcoins with everything is from this point: uh were were entering this 20 day moving average on s p in green.

The the blue is up here at the 50 day, and that range is like a one and a half to five percent range. So as as these traditional markets enter that range, we have to be very mindful of resistance over there. If we get resistance over there theres a strong possibility that bitcoin gets its resistance over here. So this is a six hour chart. So with this pattern there is a and were going to talk about that resistance. There is the breakout target that we talked about up to around the 27 000 range, its an important range when we go to the weekly charts heres, our macro fibonacci uh, which is basically the bear market. Low 2018 to previous bull market. High weve fallen into this range, which we thought we fell into and below the last bear market, so were were in this bottoming out area. This is good, but that twenty seven thousand dollar target up here in the vicinity of uh the six one. Eight of this macro fibonacci its it would be such a great mid, bear market rally before new lows and and historically looking back on this chart. It would make so much sense and to give you an idea, this is what happened back here in 2015. I just did a video out: well. 2014. 222. 2015.. I just did the video about it, heres that macro fibonacci to the 618 and then boom finally to the bear market bottom.

So we want to be continually mindful of that. Potential move, as were tracking these shorter term moves, namely the move to 27 000 and that move to 27 000 brings bitcoin on the daily chart to a very interesting, very interesting area. So the 20 day moving average right around just above 24, 000, the 50 day moving average right around 28 000 confluent, with that macro 618 line that we just looked at on this fibonacci. So this area could be the potential rally range for bitcoin before seeing resistance. We can utilize it, though, as a bullish, confirmation range meaning if bitcoin actually explodes through this area. That could be an extremely big deal from a macro standpoint. That would have to be a completely different video to talk about what that means, but right now bitcoin far away from even the resistance range right and so from where it is right. Now, to the 20 day, moving average 15 that 20 day moving average around 24 500 and to the 50 day moving average around 31 percent, and that move is around uh 27 to 28, 000. So, basically, still a 30 move away for bitcoin to hit this target. To the upside – and i would anticipate some volatility, if its even gon na get there if this rally does happen and what id ex what id anticipate is, at the very least, a throwback to the neckline to see if bitcoin shows support before continuation to the upside.

So actually hitting a 27 000 target might not happen until next week, sometime or even the beginning of july. So this again as every other pattern, even on a six hour chart, we have to give it time to play out and we have to anticipate all of these moves. This is a quick moving market. This is why i do these videos, its not financial advice to you, its, not financial advice to anyone. Nobody knows whats going to happen. This is data i track to speculatively anticipate all these scenarios, so, in my mind, im visualizing and im just im ready. I am like an athlete in the field ready for what happens next thats, what were doing here so thats bitcoin. This is what im watching for uh itll, be very interesting, really to watch how uh the traditional markets close today, theres still a bit a good, a good. A bit of time left on today will: will s p, for instance, make it to the 20 day moving average today and what happens there so well continue to watch that, because, if markets closed, pretty green today for traditional markets could be a good thing for bitcoin And all coins going into this weekend lets go to ada heres ada on the weekly weve identified, so many different things in terms of ada. It is in the grand scheme of things just held up really well in recent weeks right against markets, and we can take a glance at the awtc pair.

You can just see it on the weekly chart. You can see ada. Currently, we close a green candle above a to btc 20 week moving average. We currently have a green candle above the 20 week moving average and were going to continue monitoring that, because you know the last macro swing lows for ada btc pair was at the 20 week moving average, so we had one in april. We had one back here, as were getting 20 week, moving average crossing below the 50 week moving average in january. So this is kind of a big deal on a macro sense for ada and all of that happening right now, as ada gets ready to go into vassal hard fork in just over a month. Remember also hard fork was delayed around a month. So this this green box got pushed back a little bit instead of ending this green box ending in around a week, its actually ending in just over a month. So ada has this. This entire space for potential continued, if not run up but continued out performance of other cryptos and thats, going to be something on the macro that im watching for ada but as we start digging into ada charts here, we are were continuing to track the same structure And pattern and uh just setup that weve been watching. It is incredibly takes an incredible amount of patience to watch these things because, like when were seeing and and im as im doing these ta videos and were watching this ascending triangle and were even talking about the possibility, comes out and breaks back a pullback to the Lower trend line in in the present time, its just like okay lets, see if it happens, lets see if that happens, but we never really considered the time that it might take for that to actually happen right like we could get the pullback, maybe june 29th cardanos At 60 cents, but were talking about the possibility of it june 12th june 13th right june 18th.

We have all this time. We have to wait to see if it even happens and so thats, why its tough as a as a content creator. Sometime, because i want to create the contents and i want to be updated and keep everyone updated. But we have to let these things play out, but, needless to say, while we are patient, things are happening here right. We have the 20 day moving average, just above ada right now, so as traditional markets as bitcoin potentially rally. What happens here for ada and were talking like it is pretty close from a price range perspective, were looking at just a four percent move. Can ada get back above that 20 day moving average? This would be pretty a pretty big deal because we know that 20 day moving average has just proven to be this area where ada fails it gets above it fails, gets above, it fails gets above, it fails. Right gets above it fails. This could be a scenario where ada it did get above it and failed, but it very much consolidated directly below before putting in a lower low. There has been no lower low and if, if ada can get back above that 20 day, moving average in green, that could be a really interesting data point not to mention the the confluence. Now, as uh the 50 day, moving average gets pulled down as well. These two moving averages are so so very close, meaning the 20 day moving average possibility to cross above the 50 day.

Moving average with an aida pump is extremely close, and that would be a very bullish move for ada. All of this, while we watch – and we wait to see if ada can get that pullback to 60 cents, thats kind of the target right now for ada and if it happens, you can see. Ada will be above both the uh above the 50 day. Moving average 28 millimeters and i should say, thats the bullish target dont. I i should remind you all that theres very much a bearish target below 30 cents still in play, uh. That is the ascending triangle. Breakout target to the downside. Right so were just trying to get back into and at the apex of the triangle, the bullish, tr. The bullish triangle target is all the way up here above a dollar, but were not even there yet to start talking about that. So were trying to see ada kind of escape uh this this area, that its in meaning the breakouts below the bearish breakout were trying to see if ada can can can turn this into a busted ascending triangle of sorts is what we would call it now going Over here heres the case for eta to 60 cents, we have this setup uh, which i i just thought it was kind of cool to watch um, the heres, the by the way heres the ascending triangle, lower trend line we just looked at on the daily chart – Were on the six hour, but i was i like to watch charts with anything and just kind of im, always trying to look for structure like what is what is this whats happening here right? In my mind, im kind of like dude that looks like an inverse head and shoulders.

I really would, i would say it is like. I would call that that in my own time, uh theres a lot of commenters out there. That would say: thats not thats, not symmetrical enough thats, not right that neckline doesnt make any sense for me its the story, its its bear. Stepping in here its bear stepping in here and its bear. Stepping in here kind of like the the bullish bear battle, bears a little weaker on the right, shoulder and and the bull stepping in here kind of trying to test this neckline actually right now. But putting that aside lets not even talk about that breakout target kind of in the apex here of that triangle, i like to also look at. When do we get similar moves and what happened? How did it play out – and i was looking at this move back here in may uh into the end of may so? Basically mid may end of may, and this move is so similar to kind of what were seeing play out right here and the one difference that im, seeing if we kind of just move it a little bit is instead of ada just getting weakness and coming down It is actually right now uh putting in kind of a bullish move to the upside right and, i think thats something im paying attention to, because i like to watch historical moves, its its the move and flow of crypto right and a lot of that intermingled into That is also sentiment and what is happening across all markets so right now, instead of at this point ada falling, it is actually making a move to the upside right, and this is an important deal, because right now this was a higher low for ada.

From this swing low and right now, this is a higher low for uh ada from this swing. Low right, so ada might have put in a higher low for a potential move like this uh, and this is what well be watching be very careful out there. Everybody these markets are incredibly volatile right now, its were not in those days where were in this bull market right. These higher highs higher lows, just tracking targets upside our targets to the upside right now is just to see if bitcoin and ada can make it to make it back to even a resistance area right were not were not tracking bullish targets. Here um were trying to form a bottom here and with the volatility of all markets, its its just, we have to be very careful right now, so be careful out there. These are the targets im watching for the upside. I know i didnt talk about too much downside. You all know the downside targets for ada um and then bitcoin. We know where that previous swing low is. We know where this uh 786 line is right: around 17 000 and really theyre, both around 17 18 000 um. If bitcoin just kind of falls, we we really need to see bitcoin at the very least, see a double bottom support or something in that area. So these are all the things im watching everybody to get this friday started, i hope youre having an amazing day.

https://www.youtube.com/watch?v=31tZeH-smz4