ADA on the 6 hourly.
ADA is forming a descending wedge.
In this case, the wedge is likely to be a continuation pattern (meaning the trend is likely to continue). For one, we have a strong trend up and the wedge does not form the trend but is rather just a consolidation showing ADA/USDT is pausing. Also, the price will typically breakout out in the opposite direction the wedge is sloping–which in this case is higher, and in alignment with the trend.
Price should touch each trendline at least five times to outline a good pattern. That's 3 touches of one trendline and 2 of the opposite.
Duration, 3 weeks is the minimum duration, otherwise, it's a pennant.
Possible break around the 18-19th March.
Charles Hoskinson to speak at the Blockchain Africa Conference 2021 on Cardano projects on the continent of Africa.
The conference will take place online from March 18-19
***MAKE IT RAIN***
Delegate your ADA to RAIN stake Pool.
Support me being a Stake Pool Operator.
Still waiting for the first block to be mined.
ADA is forming a descending wedge.
In this case, the wedge is likely to be a continuation pattern (meaning the trend is likely to continue). For one, we have a strong trend up and the wedge does not form the trend but is rather just a consolidation showing ADA/USDT is pausing. Also, the price will typically breakout out in the opposite direction the wedge is sloping–which in this case is higher, and in alignment with the trend.
Price should touch each trendline at least five times to outline a good pattern. That's 3 touches of one trendline and 2 of the opposite.
Duration, 3 weeks is the minimum duration, otherwise, it's a pennant.
Possible break around the 18-19th March.
Charles Hoskinson to speak at the Blockchain Africa Conference 2021 on Cardano projects on the continent of Africa.
The conference will take place online from March 18-19
***MAKE IT RAIN***
Delegate your ADA to RAIN stake Pool.
Support me being a Stake Pool Operator.
Still waiting for the first block to be mined.