Pattern: Higher Lows on 1D.
Signal: (A) Buy as long as the Higher Lows trend-line holds, (B) Sell if it breaks.
Target: (A) 0.00001400 (Lower Highs trend-line), (B) 0.00000450 (Support).
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Cardano/BTC exchange rate (October 24th through November 1st 2020)
Low: 0.00000744 ADA/BTC
High: 0.00000844 ADA/BTC
As I write this currently, what I see are some moves down. I will post a more in depth forecast soon but we could reach new lows in the next 2 months, from what I can tell.
Thanks for tuning in :) Disclaimer, I am not responsible for any...
As we can see here on the daily time frame for Cardano (ADA) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the large bullish wave. As we can see, ADA had peaked around 1600 satoshi on its last rally. Additionally, we can see an even bullish flag/wedge of sorts forming over the last week or so....
Cardano did a head and shoulders formation and it seems that will continue its upward movement. We could recommend opening a long position if it does a pullback to the green zone.
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There may be a cup and handle pattern forming on the weekly chart for ADABTC. If this prediction is correct we should see a push to the upside soon. In support of this bullish bias, we are also approaching the 0.618 FIB level which sits around 880 sats. Let me know what you guys think!
THIS IS NOT FINANCIAL ADVICE DO YOUR OWN RESEARCH
Once Cardano's phase of weakness against Bitcoin is over, a phase of strength should follow.
Today's closing above the EMA50 should confirm its strength. Then a bull-run could run towards new highs.
Good luck with the implementation of your ideas.
Greetings and a good start to a new week