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Veteran Dealer Warns Cardano Mimicking Bitcoin Sample That Preceded BTC’s 50% Crash – Cryptospacey

Veteran Dealer Warns Cardano Mimicking Bitcoin Sample That Preceded BTC’s 50% Crash – Cryptospacey

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A widely accepted veteran trader, Peter Brandt, warns that Cardano (ADA) is presenting a bearish continuation pattern.

Brandt tells To his 675,600 Twitter followers, Cardano appears to be printing a pattern of a descending triangle, suggesting that ADA has a contemporary leg down.

However, the legendary dealer says his predictions don’t need to come back to move.

“This could be a fractal chart development, often referred to as a descending triangle. If it continues inside the fractal, ADA should have another important decline. ‘Should’, not ‘should.’

Edited by Peter Brandt/Twitter

Brandt’s prediction is accompanied by a side-by-side comparison chart between Cardano and Bitcoin (BTC). In the chart, each crypto-asset is in a descending triangle, albeit in multiple durations – Cardano in modern times and Bitcoin in 2018.

After being in a descending triangle pattern for about 10 months, Bitcoin continued to fall from $6,000 to $3,200 – a 47% drop.

According to the chart posted by Brandt, Cardano’s descending triangle pattern started about 4 months earlier.

Cardano is buying and selling at $0.464 at the time of writing, while Bitcoin traded arms at $19,926.

The veteran trader’s assessment of ADA is getting lower than every week earlier than Cardano’s much-anticipated Vasili arduous fork. Vasili’s laborious fork, which is predicted to lower Cardano’s transaction fees and improve scalability, is scheduled for September 22nd.

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Disclaimer: Opinions expressed in The Day by day Hodl may not fund the recommendation. Buyers should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please suggest that your transfers and trades are at your own risk and any losses are your responsibility. The Day by day Hodl does not endorse the purchase or promotion of cryptocurrencies or digital assets, nor is The Day by day Hodl a financial advisor. Please note that The Day by day Hodl is involved in internet affiliate marketing.

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