Minds. Is it over for cardano the question on my mind: is it just getting started? Music whats up everyone welcome to crypto capital adventure, hit the subscribe and like on the way in it really does mean a lot to me as i grow this youtube channel and as i continue to track my crypto journey thats, what this is thats, what im doing Cardano is obviously at the top of that crypto journey uh its its one of my big interests. It has been for a while this is the data ive been tracking this isnt financial advice, everybody. This is just me tracking, this stuff and ive. Really i want to take a second before we dig into these charts and what im looking at, especially on this six hour, chart its a mess but im gon na break down very simply whats going on there. Before i do i tweeted earlier, i said i dont have the desire or time to debate cryptos or defend cordano from social media attacks. I cant believe people spend so much time on social media. Creating negative content against each other. Life is way too precious to spend time on such things, love, and i i might get some comments. Dan dont even focus on the negativity, but you have to keep in mind this channel, especially in the last year, has grown a lot. Its been a blessing im. Grateful for that, but with that came just this overwhelming sense of like i dont, even know how to explain it, but when youre getting comments, comments and comments and comments from every direction, a lot of awesome ones, i should say mostly awesome ones, but youre getting so Much negativity and youre, seeing so many people attacking not just me, but projects attacking each other it.

It really does something and its. It has done something to me and i want to talk about it just briefly to start the video, because i think i think it could apply to you as youre in crypto youre invested in crypto youre on twitter youre on youtube, because i im thinking of ecclesiastes Ecclesiastes1 king solomon saying all is vanity everybody. The this stuff is meaningless. If god is not in the equation with anything in life, including crypto, it really is meaningless and to take it a step further and and were seeing people just attack each other argue all day. Every day about crypto projects, its like, i personally have to step back from that and be like, and this is what ive been doing the last month or two is just like. What am i doing in crypto, because i dont want to add to that. I dont want to add to that. I want there to be purpose in in, like the time im spending doing this stuff, besides just tracking the charts because thats fun, but i want there to be more purpose as we grow crypto capital venture, and so i say that to encourage you, dont get so Wrapped up into any of it and if youre in cardano – and you have your reasons for being in cardano – enjoy your journey learn from your journey if theres other projects enjoy that. But we need to step back and like reevaluate, i think we really do and how were approaching social media on crypto.

I wanted to start with that. I hope its okay lets jump into the video that was a few minutes im gon na leave it im not gon na im, not gon na redo, that this is the weekly lets. Lets dig in weve, been here before everybody. I question at the beginning of the video: is this just the beginning because, like when were looking at the weekly chart and were looking at the progress that cardano is making technically right? Technologically, it looks crazy on the weekly, like, oh man, this is years and years and years but like if youre, looking at the macro and ive done this before just zoom all the way out. This is the beginning. We havent, even we havent, even got to you, know these other parts of the cardano roadmap that address scalability and governance and we havent even we havent, even seen this explosion of companies and startups that are building on cardano smart contracts just got released. That stuff is happening and theres. I think a lot of people that are like just cant be patient for just this long term. Investment mindset and thats fine, but i just want to let you know as im doing these videos and im zooming. I do zoom in on the charts the six hour were going to look at today. I want you to just know from my perspective, like im, im, im more thinking, long term, obviously im trying to take profit short term, like you know, in recent gains in bull market cycles.

Of course, im going to be taking profits but im looking to im. Looking long term im thinking long term im building long term, and so when i, when i address these charts thats, where im coming from so now going to the weekly. This is kind of a macro view right in a sense because weve been using data. These hard forks heres a hard fork, thats a smart contract from alonzo. This is the mary hard fork, heres shelly we! This is nothing new, this all this, this weekly consolidation above the 20 week moving average. We went into this entire hard fork, anticipating pretty much the exact same thing as what happened in previous hard forks, the consolidation to the 20 week moving average, the consolidation to the 20 week, moving average whats happening right now. I i i dont know why it seemed. It seems to surprise a lot of people, not just because cardano data is right before our eyes, but crypto in general. This is what happens. Cryptos take turns there have been many times when cardano was just exploding, and you can see it on this weekly chart cardano just taking off just doing epic things on the charts and other cryptos doing absolutely nothing and its on the flip side like that can happen To cardano cardano are doing absolutely nothing actually going down and other cryptos doing something bitcoin hitting an all time high, while cardano is doing this right, so we have to like really take all these different moving parts put into perspective.

At least i do for my mental sanity to get a clear roadmap of whats ahead for cardano, potentially on these long term charts so thats, the weekly, the consolidation is there and, as we come down as we get this squeezing consolidation and the rsi cools down the Momentum oscillator, the quicker moving momentum oscillator here were about to enter that oversold area. When that starts happening, then i start kind of getting even a little bit more bullish than i already am so youre. You might be thinking dan cordanos down like 35 and youre youre youre bullish, and that is how it is like its kind of like the bitcoin bear market it. It became very easy to get bullish at the bottom of the bear market when bitcoins at like four thousand dollars, because its oversold its just opportunity, and so the same thing is true for cardano opportunity. Its just i mean for me personally im not at that accumulation area just yet cardano would need to dip a little bit more for me to start really kind of putting some fiat in, but its like. Not that far. It really is not that far as we approach oversold on the stock rsi and the rsi, the slower moving momentum, oscillator cools down thats the weekly, but lets really dig into these charts. It took me seven minutes to get here, but this is like this is. This is cool stuff, i would say on the daily chart, we talk about consolidation, we talk about.

Well, how can we even be surprised with what cardanos doing, because we have been here before it? It just is what it is um, and here it is its 55 days to be exact uh from all time high for cardano. So it is all the way back here september, 2nd to where we are now 55 days of just wow downward trend consolidation. It wasnt long ago we were hitting all time high cardano was hitting all time. High may 15th right may 15th, all time high above two dollars and then look it consolidated for 65 days and people exiting walking away getting frustrated and not only that this entire move. So similar to this move and weve talked about it. The 20 day, moving average cross below the 50 day moving average right there that blue line – and we have the 20 day moving average cross below the 50 day. Moving average right here and we know drawing into the 200 day moving average 100 in play and drawing into the 200 moving average is what really just happened today, cardano hitting right around 1.80 lets talk about this move. Lets lets dig into this entire thing. Actually, all of this right here lets start with this clip. This clip is from october 17th. Real quick is just getting very, very squeezed into the apex, so will there be a breakout to the downside? Will cardano break to the upside? This is what im watching for thats it.

This is all we can ever do everybody. We paint the data on the screen. We set up the structure that is playing out and then we anticipate every scenario. This is what im waiting for and now were getting were getting these moves, so mentally ive been just waiting and if youve been watching my videos, you know that just been waiting for cardano to do something so lets break all of it down on this chart. In that video i was looking at this descending triangle. I was looking at a symmetrical triangle, a smaller, symmetrical triangle right in there in blue lets. Let me break it down for you, so i know the chart is messy, but i want to just talk about this and and youll be able to see exactly whats going on in, like 20 seconds lets talk about the descending triangle in yellow right. So descending triangle is just boom, lower highs and just this area at the downside of just support right down here and its right in the vicinity where cardano is right. Now the dollar, ninety to two dollar range weve talked about it because it was a lower trend line area for this descending triangle, thats. What were looking at in the descending triangle? The reason i have three yellow lines is because, as this formed, we kind of had this first descending triangle right here, right that cardano broke out of, but never put in a a higher high from this high right.

So then we had kind of this new trend line or im. Sorry, this new upper trend line right right here that second yellow line and then cardano did the same thing from that new swing, high low or high from this lower high cardano did the same thing and it failed to break above this previous high. So its just like, we still just have this ultimate story of lower highs and thats a descending triangle. So, however, you want to chart it doesnt, even matter theres, a descending triangle lower highs, and then we have this common trend line at the bottom, which is this horizontal lower trend line at this dollar ninety to two dollar area. So this is where cordano is right. Now, literally, as i do this video, i wan na anticipate downside first off. Let me get that out of the way and we can talk about a bounce i tweeted earlier. I think cardanos getting ready to bounce. I really i kind of do and it might not so be extremely careful out there everybody. This is my opinion, but this is to the downside. Lets lets lets visit this the downside target first off for the symmetrical triangle. As weve been tracking, it has been a dollar seventy, so let me actually zoom in to track, because this is the move. Weve been waiting for this move out of the symmetrical triangle, and we we literally got it. We got the move out of the symmetrical triangle.

The symmetrical triangle being in white – and here it is theres the break boom. Now did we hit a dollar seventy? We did not. We hit right around a dollar eighty one so that dollar eighty area thats tough, does the target have to be hit exactly or could that be it for cordano? Could that be kind of just that symmetrical triangle breakout to the downside, or is it taking a break right now, gon na revisit that dollar? Seventy i cant answer that i really cant, but what i do know is we got the breakout to the downside and now, if we open up the six hour heres what we can potentially anticipate for this bounce scenario, cardano, if you look at this chart, is obviously Not only testing this lower trend line of this descending triangle that i just charted its an important area for cordano, but right now were getting to this area on the six hour, rsi very similar to these other areas on the rsi, where cordano was kind of bottoming Out at this lower trend line of the descending triangle, so theres a very strong case that cordano could bottom out once again in the vicinity of 190 to two dollars and we might just get a turnaround for cardano to kind of kind of at least mess around. In this apex of the descending triangle, once more right, well, we get the breakout that we want to see to the upside three dollar range breakout target uh by the way for cardano out of this descending triangle, that yellow line – maybe the other thing thats in play Here, for a balance is just the fact that we did break below the lower trend line of the white, symmetrical triangle that you see here.

We broke below the lower trend line, and so often is the case that we just get these moves right back to the apex right back to the triangle, whether or not that move leads to a breakout through that area or just resistance and back down thats something We track thats, why i do videos so often, but just that alone. We see this happen so often for for these setups symmetrical triangles in particular, if you look at the data for symmetrical triangles pullback rate of 65 percent of the time and when im looking at this data, i just want to throw this out there and remind you. Look at this data: this is based off bulkowski on the patternsite.com in terms of symmetrical triangles and bull markets, upward 60 of the time for symmetrical triangles 74 of the way to the triangle triangle: apex, just notice. I have it charted here. This is 73 of the way to the apex cardano broke to the downside. Do you see how that that, after just getting this, this consolidation in the triangle? Look how that data that weve just used we use so much on this youtube channel, look how it played out it wasnt exact 73. It could have been 68 but either way 73 and that data says 74 and thats. Why we continue to utilize this data and another data point would be a pullback right and what did we say? 64. Im. Sorry, 65 of the time we see a pullback for these things, so im, anticipating a potential pullback, its not guaranteed once again, but its something im on the im on the lookout.

For one thing i know this move to the downside would have loved to see it to the upside, but it just doesnt surprise me at all its. This is why i track the data so im not surprised, im, ready, im, chilling, im relaxed, im mentally just im mentally prepared thats. Why i do these things now going back to this chart, the messy chart right lets lets, let me actually just so. We can clear this up. Let me get rid of a couple of these lines: theres the descending triangle. Just to give you a sense of the downside, we know the upside is in three dollar range. The downside is that dollar forty range for cordano dollar 30 to 1.40 range be prepared for it. Its all. I know its all. I know how to say if we get in an environment like that im not going to sit here and say im just going to go hardcore buying that dip. But for me that is kind of this area, where i will likely likely start accumulating cardano with fiat. Once again and its been a while really since ive done that, and if we look at cardano right now, its would enter an environment, at least on the six hour. You can look at the daily too. It would enter a very oversold environment if it did reach that target to the downside, but we can you know we can hope for the best here on this chart, see if we get this bounce for cardano, at least to the upper trend line test that once Again back to the symmetrical triangle: uh apex test that and lets see the resistance for cardano right now, if cardano does get, a bounce is really all up in that area, its essentially 210 up to 225.

, if you go to the daily chart, check it out. This is what happened: cardano failed at these moving averages to like right around 223 for the 50 day, moving average that blue line and right around 215 for the 20 day moving average cardano still needs to get back above that area for it to do so. Thats, the area of resistance and if we go to the six hour, thats also the area of resistance for these trend lines and these setups of structure so thats. What im watching on cardano this was a long video uh. I really appreciate all of you watching. I hope its of value to you. This is what ill be watching for. Cardano would love to see a bounce right now, if not, we know what to anticipate to the downside as cardano continues to consolidate and get a its approaching oversold real quick. I just want to look at the daily chart on the rsi. You can see its getting very close to this oversold line on the rsi and last time we were there on this rsi. Remember all the way back here when the 200 moving average uh 200 daily moving average was tested back in july. So lets see what happens everybody.