Veteran Trader Warns Cardano Mimicking Bitcoin Pattern That Preceded BTC’s 50% Crash

Veteran Trader Warns Cardano Mimicking Bitcoin Pattern That Preceded BTC’s 50% Crash


The widely followed veteran trader, Peter Brandt, is warning that Cardano (ADA) is exhibiting a bearish continuation pattern.

Brandt tells his 675,600 Twitter followers that Cardano appears to be printing a descending triangle pattern, suggesting the possibility of a fresh leg down for ADA.

The legendary trader, however, says his prediction doesn’t have to come to pass.

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“This is a fractal chart construction known as a descending triangle. If it continues in the fractal, ADA should have one more significant decline. ‘Should,’ not ‘must.’”

Source: Peter Brandt/Twitter

Brandt’s prediction is accompanied by a side-by-side comparison chart of Cardano and Bitcoin (BTC). On the chart, both crypto assets are in a descending triangle pattern though in different periods – Cardano in the current time and Bitcoin

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