A rare and powerful bullish pattern is confirmed on Cardano’s (ADA) weekly chart. Primary time cycles culminate soon for Cardano.
The bullish shark is the newest of Scott Carney’s harmonic patterns. I’ve never gotten used to it yet. It’s a pattern that relies on the extremely powerful 88.6% Fibonacci retracement. It is different from all of the other M and W patterns. But it’s just as powerful as all of the other harmonic patterns — and I’ve read anecdotal reports that this is one of the most potent harmonic patterns in Carney’s arsenal. This pattern is now present on Cardano’s (ADA) weekly chart (above). Harmonic patterns themselves are not a sufficient form of analysis for identifying turns in the markets — although if there were one form of technical analysis that could stand alone, harmonic patterns would probably be the best performing one. I use them as a confirmation tool. If price is trading near a specific price point near a particular cycle and one of the harmonic patterns is present, nothing else really matters. If you are unfamiliar with harmonic patterns, know this: They are among the most potent pieces of technical analysis that currently exist.
Cardano (ADA) is just three days away from completing the 360-day cycle of the inner year. The all-time low for Cardano was on December 7th, 2018. December 2nd, 2019, is 360-days from that date. As a Gannyst, it’s no surprise to me that we found the new 2019 low around the anniversary date of the all-time low and inside the final 360-day Cycle of the Inner Year. Some other astronomical cycles also occur during the end of this 360-day cycle. Some of those astronomical events are:
When new lunar cycles begin (full moons, new moons) and there are other astronomical cycles present, these time periods usually indicated essential trend changes. The New Moon started on November 26th, 2019.
Natal Pluto Square Mars (thicker turquoise column): This cycle is measured by isolating Pluto’s position in the sky on Cardano’s first trading date: October 1 st, 2017. Mars has been 90-degree of Pluto three times. The first was Cardano’s all-time high; the second was Cardano’s all-time low. The third is the most recent 2019 low. This Natal Pluto Square Mars even began on November 24th and will end on December 2nd.
Heliocentric Venus in Aquarius (thin blue vertical line): There have been four cycles of Venus entering into the sign Aquarius. Near the all-time high in January 2018, the Sept 1 st,2018 swing high before a steep selloff generated, and the April 2019 swing high was third. The fourth instance of this cycle occurring was on November 22nd, 2019, a couple of days before the new 2019 low was reached.
Neptune Retrograde Cycle (large, thinly shaded green columns): For whatever reason, the retrograde cycle of Neptune might be an essential cycle for Cardano. It has only appeared twice, first from June 18th, 2018 to November 24th, 2018. The second time was near the 2019 high on June 21 st, 2019, through November 27th, 2019.
So what does this all mean?
Gann wrote that the 360-day cycle often created essential turning points. Given that there are a significant number of powerful astronomical cycles that are coinciding with important anniversary dates and yearly price levels, we should anticipate an extremely bullish drive from this value area. I would expect the bull phase of Cardano to last at least along as it did from the all-time low to the 2019 swing high — which was within the 180-day cycle (180–198 days). I believe that the probability of the low being in for Cardano right now has an extremely high degree of being accurate given the presence of the Bullish Shark pattern on the weekly chart.
Predicted Conservative Price Target and Date: $0.178 on or before June 17th, 2020.
Predicted Aggressively Ludacrous But Totally Realistic Price Target and Date: $1.32 on or before June 17th, 2020.