thefindependent

ADA symmetric triangle breakout in either way but likely upward!

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KRAKEN:ADAUSD   Cardano
$ADA seems to be forming a near perfect symmetric triangle which indicates a breakout in either direction, but typically in the same direction that we were in before the triangle (long). This scenario played out very well with Bitcoin in January, though that triangle was over a longer time frame than a few days. The target for that triangle perfectly matched. I think this might possibly indicate a strong breakout on the upside for ADA very soon, as we approach the end of the ascending triangle. ADA's mary update and the overall bullish crypto market suggests that likely upside breakout also.

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