ADA consolidating in descending triangle, I expect bullish break
ADA / USDT (Cardano) on Binance is consolidating in a descending triangle. While descending triangles are NOT as good as Ascending triangles (slant faces UP), in a bullish environment descending triangles are also OK.
If the crypto market continues to stage a strong rebound and regain bullish momentem, even temporarily, I expect ADA to breakout positively from this consolidating. I do expect it to dip upwards of 5-7%, but I believe buying here or in the range of 1.20 is good.
My stop loss is 10-13%.
If ADA breaks below 1.2 on STRONG volume, that's not a good sign. If it's weak volume and it continues to retest 1.20, that's normal and expected. 1.20 is support and a good place to buy.
Profit target is 1.40, which is previous ATH years ago.
If the crypto market continues to stage a strong rebound and regain bullish momentem, even temporarily, I expect ADA to breakout positively from this consolidating. I do expect it to dip upwards of 5-7%, but I believe buying here or in the range of 1.20 is good.
My stop loss is 10-13%.
If ADA breaks below 1.2 on STRONG volume, that's not a good sign. If it's weak volume and it continues to retest 1.20, that's normal and expected. 1.20 is support and a good place to buy.
Profit target is 1.40, which is previous ATH years ago.
@eddietradezz
