🔥 ADA Bearish Wedge Break Out

A couple of days ago I made an analysis about a potential upcoming break out of ADA. Take a look for reference:

For now, a couple of things can happen. BTC could fall further towards 38k-35k, or it can reverse from here. I'm currently edged towards the bullish side of BTC since we're already ~40% from the top.

Take a look at this analysis for my current view on BTC:

In case BTC reverses, the $1.85 (close of the last H4 bar) is the first hurdle to take for ADA. In case this gets taken out, a rise towards $2 is expected in the short term.

On the other hand, BTC could fall again. $1.60 and $1.50 supports are the main supports for ADA in the coming 48 hours. Something very drastic would need to happen if ADA would fall below $1.50 in the next two days. Highly unlikely.

Happy trading!