I see a great opportunity here for a short position. a lot of coins look to be forming H&S patterns but none have been confirmed yet. This looks to be a very solid formation in terms of symmetry. We also have a descending triangle forming it seems, which can help with the drop.
This is a trade I am looking to take here. although we can shoot up here, the R:R is great and the chart patterns show we can drop more. This also goes well with my large perspective of ADA/BTC which I have posted about 1-2 weeks ago.
The Green box at the bottom is where the .786 fib level is. But it is also where the Head and Shoulder Pattern minimal target stands.
I hope this helps and remember that none of these have been confirmed yet. So theres a risk here. But I favor more downside. Let's see how this plays out.
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