Cardano / BitcoinPanjang
Two reasonable patterns - what's your choice?
So far it's is all playing out well, my former analysis seems still valid.
I now recognized two valid patterns: A bull flag and an descending triangle.
In 2018-2019BTCUSD has demonstrated a nice descending triangle breaking to the downside after a major uptrend.
So i definetly would take this into account for ADA too. Price is narrowing down nicely within the boundaries of the pattern.
On the other hand i can see a clear bull flag which may bring more upside momentum soon.
You may ask why i didn't took the spike between July 25th to 27th into account on both of the patterns.
That's simply because it looks like a false break out due to a thin orderbook paired with a lack of descent volume compared to the inital climb on July 20th.
Normally these fake outs do affect the major patterns less or can simply be neglected.
My conclusion is that i would give a breakout to the upside a higher chance - already seeing the Coinbase lisiting on the horizon.
What do you think about these two patterns?
I shurely may be complety wrong and if so please let me know ;)
Cheers!
I now recognized two valid patterns: A bull flag and an descending triangle.
In 2018-2019
BTCUSD has demonstrated a nice descending triangle breaking to the downside after a major uptrend.So i definetly would take this into account for ADA too. Price is narrowing down nicely within the boundaries of the pattern.
On the other hand i can see a clear bull flag which may bring more upside momentum soon.
You may ask why i didn't took the spike between July 25th to 27th into account on both of the patterns.
That's simply because it looks like a false break out due to a thin orderbook paired with a lack of descent volume compared to the inital climb on July 20th.
Normally these fake outs do affect the major patterns less or can simply be neglected.
My conclusion is that i would give a breakout to the upside a higher chance - already seeing the Coinbase lisiting on the horizon.
What do you think about these two patterns?
I shurely may be complety wrong and if so please let me know ;)
Cheers!
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