Cardano's Desending Wedge Setup, will it shrug off macro woes?
Updated
Will the major Altcoins particularly ADA, LINK and UNI breakout of their descending wedge setups. Is this prominent technical setup, the signal for a breakout to the upside?
Or will continuing macro woes, make the TA analysis null and void. Equity Markets might be seeing a bear market bounce, this could relieve downward pressure on risk assets? Allowing the potential for a significant bounce in the major cryptocurrencies.
A potential bounce could see a 50-100% upside for major Altcoins that are down over >75% from all time highs. With Bitcoin and Equity index spurred by the strong support at the 200 daily moving average.
Time to wait and see.
Or will continuing macro woes, make the TA analysis null and void. Equity Markets might be seeing a bear market bounce, this could relieve downward pressure on risk assets? Allowing the potential for a significant bounce in the major cryptocurrencies.
A potential bounce could see a 50-100% upside for major Altcoins that are down over >75% from all time highs. With Bitcoin and Equity index spurred by the strong support at the 200 daily moving average.
Time to wait and see.
Trade closed manually
Currently sold position due to perceived rolling over pattern in crypto and equities. Next entry is ADA 1=0.39 USD
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