CARDANO Trading within the 1DMA50-MA200 on this Triangle fractal

ADAUSD has been consolidating for more than 1 month (since September 20) within the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). This consolidation happens to be inside a Triangle that shares many characteristics with the May - July 2021 Triangle.

As you see the May - July fractal also traded for a similar period with the 1D MA50 and 1D MA200 and when the price broke above the 1D MA50, Cardano started its strong August rally. It's worth pointing out that on that fractal, the price marginally broke below the 1D MA200 for 3 days before breaking above the 1D MA50. However the RSI has already double bottomed. In July the (near) RSI Double Bottom happened to be on the 1D MA200 (marginal) break-out low.

Do you think that ADA has bottomed already and will soon start the rally above the 1D MA50 or there is one last low left to be made below the 1D MA200? Feel free to share your work and let me know in the comments section!



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