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ADABTC H&S Failure?
ADA being to top pattern and BTC being below it. Keeping the chart as simple as possible.
ADA has formed a classic head and shoulders pattern. Textbooks tell us to short the breakout, with a target equal to the top of the head to the neckline.
In this case we may be looking at a retest of a major low ( redline, support ) However btc is the driver of crypto. Taking a look at the btc chart we can see that the pattern is bullish.
The market sentiment is bullish.( on this time frame) This indicates to me that the head and shoulders pattern on the ADA chart would likely fail should the pennant of btc break resistance.
Keep an eye on fundamentals, news and facts.
Tip.
Research Mt Gox cold wallet monitor.
Preserve, Profit, Prosper.
ADA has formed a classic head and shoulders pattern. Textbooks tell us to short the breakout, with a target equal to the top of the head to the neckline.
In this case we may be looking at a retest of a major low ( redline, support ) However btc is the driver of crypto. Taking a look at the btc chart we can see that the pattern is bullish.
The market sentiment is bullish.( on this time frame) This indicates to me that the head and shoulders pattern on the ADA chart would likely fail should the pennant of btc break resistance.
Keep an eye on fundamentals, news and facts.
Tip.
Research Mt Gox cold wallet monitor.
Preserve, Profit, Prosper.
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