Cardano is breaking out of an ascending triangle now, giving us an approximate target of $2.10.
It is also breaking out from a horizontal triangle on the ADABTC chart.
A successful breakout from the ascending rising wedge and the inverse head and shoulders. Target around $70000.
But I'm just a random person on the internet, don't listen to me.
Approximate target after a break up is $2.10
Approximate target after a break down is bottom of triangle, $0.80
But what do I know, I'm just a random person on the internet who likes blockchain technology.
Big moves are soon likely as we approach a breakout from an inverse head and shoulders pattern and an ascending triangle.
Always remember that these patterns -- although they are technically bullish patterns -- can still break down; don't place a trade until there is a confirmed breakout with volume.
We broke up out of the large horizontal triangle and quickly met the target at $1.10. A bull pennant was formed and the price broke upwards, giving us an approximate target of $1.50. I expect to meet this target within 1-2 weeks due the the bullish price action at the moment and the good news regarding the SEC case.
Several patterns to take into consideration here:
There is a large ascending triangle, marked in green, which is a bullish pattern and gives a likely target of approximately $70000 after a break up and approximately $43500 after a break down.
An inverse head and shoulders pattern can be seen within the ascending triangle, sharing a neckline with the resistance...
