Broadening bottom pattern on weekly ?
It looks like a long term Broadening bottom pattern is forming in ADAUSD. It's usually a reversal pattern but could also be continuation or prior trend.
IMO, such long term bottoms tend to be reversal patterns.
The chart shows 2 possibilities. It could go either way from here depending upon how BTC moves and how the months of Oct/Nov unfold.
My bet is that price may come down to 6-4 cents range and shoot back up to breakout from the pattern. This will be take at least 5-6 months to playout.
However it could easily take the other route and go say hello to the support line one more final time.
*Not a financial advice. Only for educational purposes.
IMO, such long term bottoms tend to be reversal patterns.
The chart shows 2 possibilities. It could go either way from here depending upon how BTC moves and how the months of Oct/Nov unfold.
My bet is that price may come down to 6-4 cents range and shoot back up to breakout from the pattern. This will be take at least 5-6 months to playout.
However it could easily take the other route and go say hello to the support line one more final time.
*Not a financial advice. Only for educational purposes.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.