ADABTC CARDANO FINALLY POISED FOR A POTENTIAL BREAKOUT PATTERN
PATTERN: ASCENDING TRIANGLE (Inverse H&S previously failed and morphed into ascending trianlge)
BREAK OUT TO CONSIDER: Run your own analysis, but look to 2375 for initial breakout, as always TAKE INTO CONSIDERATION BITCOIN BTC 'S MOVEMENT, Moving Averages, MacD, RSI.
TARGET PRICE: 3086 SATOSHIS
NARRATIVE: It's important to note an ascending triangle is generally considered to be an uptrend continuation pattern. However, it may also be a reversal pattern in a downtrend. The strength and reliability of an ascending triangle actually depends more on the technicals within the pattern than the prevailing trend. Currently 4 touches + on the resistance horizontal line, with 3+ touches on the ascending hypotenuse. These facts help determine the validity of the pattern IF a breakout were to occur and hold. Most importantly we will need a nice increase in volume to validate the breakout.
On the down side, Set your stop loss just in the 2100 Sats area, but again, please perform your own T.A. and base your buy, stop and sells based on your own risk tolerance.
As always appreciate you much, please like and follow if I helped you make some dough !
BREAK OUT TO CONSIDER: Run your own analysis, but look to 2375 for initial breakout, as always TAKE INTO CONSIDERATION BITCOIN BTC 'S MOVEMENT, Moving Averages, MacD, RSI.
TARGET PRICE: 3086 SATOSHIS
NARRATIVE: It's important to note an ascending triangle is generally considered to be an uptrend continuation pattern. However, it may also be a reversal pattern in a downtrend. The strength and reliability of an ascending triangle actually depends more on the technicals within the pattern than the prevailing trend. Currently 4 touches + on the resistance horizontal line, with 3+ touches on the ascending hypotenuse. These facts help determine the validity of the pattern IF a breakout were to occur and hold. Most importantly we will need a nice increase in volume to validate the breakout.
On the down side, Set your stop loss just in the 2100 Sats area, but again, please perform your own T.A. and base your buy, stop and sells based on your own risk tolerance.
As always appreciate you much, please like and follow if I helped you make some dough !
Comment:
Check out the breakout. Please let me know if you need additional charting or opinions on this trade.
Comment:
Now that's a perfect call broh.
