ADA-BTC Cup & Handle pattern?
A cup & handle pattern seems to be taking form for ADA.
One of the profit indicators for this pattern is measuring from the bottom of the cup to the breakout area of the handle and use it as a first target, which would be around the 78.6% fib level. Another levels to watch out are 100% and 161%.
Only get in the trade after the breakout confirmation. A stop loss could be places slightly below the lower candle of the breakout area.
I am NOT a professional trader. I've been learning on my own free time. Don't follow my ideas blindly, do your research and analysis!
One of the profit indicators for this pattern is measuring from the bottom of the cup to the breakout area of the handle and use it as a first target, which would be around the 78.6% fib level. Another levels to watch out are 100% and 161%.
Only get in the trade after the breakout confirmation. A stop loss could be places slightly below the lower candle of the breakout area.
I am NOT a professional trader. I've been learning on my own free time. Don't follow my ideas blindly, do your research and analysis!
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