ADA 1D inverse H&S

May 22, 2023

In 1D chart, ADA has an inverse H&S pattern.
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ADA broke through the neckline of 0.4218 and then fell back to the support trend line, and the EMA was entangled, which means that ADA is in a state of consolidation.
Before ADA falls below 0.2973, there is still a chance to reach the upper target:
0.4916
0.5131
0.5347
0.6045
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Look at the 4 hr chart:

There are two bottoms near the support trend line, and if the price closes above 0.3801, the double bottom pattern is established.
Follow the goals above:
0.3924
0.3962
0.3999
0.4122
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May 25, 2023

Note

After ADA encountered resistance at 0.3749, it fell below the trend line support, and the double bottom pattern did not appear.
Pay attention to the price:
0.3480
0.3211
0.3127
0.3044
1D inverse H&S stop loss price: 0.2973

May 29, 2023

Note

After ADA fell below the trend line, it did not continue to fall. In the 12hr chart, a K-bar reversal pattern appeared, pulling back above the trend line.

It is speculated that the rise this time may be because the U.S. debt default has a chance to be resolved, which led to the rise of BTC, which in turn led to the rise of ADA.
At present, ADA has a double bottom pattern, you can pay attention to:
0.3924
0.3962
0.3999
0.4122
0.4199
Stop loss: 0.3534
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Jun 6, 2023

Trade closed: stop reached