First sign of KASPA ($KAS) turning bullish vs BTC
Updated
KAS had fallen below the golden pocket and tested the (thick orange) 200 daily SMA, but failed on the 8Mar. It had since remained below the 78.6% Fib retrace lvl after an attempt to retest the 200 SMA again on the 22Mar.
I had been slowly accumulating more KAS below the 78.6% Fib lvl and have now doubled my KAS holdings; after having stopped DCAing into KAS after it had previously pierced above 0.05USD (see the previous 5Nov2023 chart analysis tag).
It remained below the 78.6% Fib lvl until 25May, where it first held support, finally, above the red 21 daily EMA (setting a second higher low). It subsequently retested the 78.6% Fib lvl again on the 28May and eventually bounced off the 21 EMA to successfully pierced above the 78.6% Fib lvl as the resistance line on the 2Jun.
If the following daily candles continues to hold above the 78.6% Fib, the next level to look out for is the orange 200 SMA line, still lingering just below the golden pocket.
If KAS is able to pierce above the 200 SMA into the golden pocket, this will set up KAS to retest the 0.5% Fib level, which if successful, it would then very likely continue to pierce above the relatively much weaker 38.2% and 23.6% Fib resistance levels for another revisit of the ATH and to hopefully set a new ATH for a blue sky breakout.
I had been slowly accumulating more KAS below the 78.6% Fib lvl and have now doubled my KAS holdings; after having stopped DCAing into KAS after it had previously pierced above 0.05USD (see the previous 5Nov2023 chart analysis tag).
It remained below the 78.6% Fib lvl until 25May, where it first held support, finally, above the red 21 daily EMA (setting a second higher low). It subsequently retested the 78.6% Fib lvl again on the 28May and eventually bounced off the 21 EMA to successfully pierced above the 78.6% Fib lvl as the resistance line on the 2Jun.
If the following daily candles continues to hold above the 78.6% Fib, the next level to look out for is the orange 200 SMA line, still lingering just below the golden pocket.
If KAS is able to pierce above the 200 SMA into the golden pocket, this will set up KAS to retest the 0.5% Fib level, which if successful, it would then very likely continue to pierce above the relatively much weaker 38.2% and 23.6% Fib resistance levels for another revisit of the ATH and to hopefully set a new ATH for a blue sky breakout.
Note
Meanwhile, KAS is already approaching ATH on the KASUSD chart on the daily:Note
BTC had also found support above the red 21 daily EMA, signaling a continuation of the bull market ascend:Note
Next, KAS will need to find support and bounce off the thick orange 200 daily SMA line vs BTC to confirm a probable continuation higher against BTC:Note
Fallen below orange 200 SMA but bouncing off red 21 EMA:Note
Also note above that the "bearish" Ichicloud that had been acting as resistance is now finally thinning out on the daily.Note
KAS-BTC Daily Chart: Bounced off the green 50 SMA, and establishing support above the thick orange 200 SMA. FG-Oscillator histogram turned back green again.
Note
KAS-USD Daily Chart: Bounced off the green 50 SMA with ichicloud having already turned bullish which will act as support. Presently waiting for latest daily candle to close above the red 21 EMA. FG-Oscillator histogram turned back green again. Likely to revisit ATH again, and blue skies ahead for another parabolic leg-up if KAS successfully finds support above ATH above the green zone.
Note
Kaspa has finally successfully pierced previous ATH. Perhaps a retest of the ATH level before launching into the blue-skies above. Next measured move target at 35 cents.Note
The above is the KAS-USD chart.Below is the KAS-BTC chart, and is still exhibiting strength despite of the crypto market dump after the FOMC meeting due to recession fears.
Note
Need to wait for breakout above the red 21 EMA on the 4 hourly before re-accumulating back into KAS:
Note
Note
Breakout success!
Retest 200 4hrly SMA:
Note
Note
Success retest of the 21 EMA on the daily now as well.
Good time to reaccumulate back into KAS from BTC.
Note
Typo above: *successful
However, will still need to wait until KAS pierces above the red 21 EMA on the KAS-BTC daily chart before re-entering into KAS significantly:
But good time to slowly DCA in, but with stop-limit set below the 200 SMA on the daily (Orange Line).
Note
KAS looking about to turn bullish again on the daily vs USD.
Need to wait for candle close for confirmation..
Note
KAS-BTC Chart: Now back above green 50 Daily SMA.
Note
Resistance turned support at about the golden pocket since breaking out on the 26Jun'24 and the first successful retest on the 23Jul'24, and with the latest retest on the 6Sep'24.
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