Kaspa: Bull Flag, waiting for the next leg up.
Updated
Accumulation of KAS from BTC and ETH completed.
Presently seeing a bull flag setup on the hourly timeframe.
Expecting KAS to perhaps retest the golden pocket ~61.8-65% Fib retrace lvl, before breaking above the blue resistance line..
Presently seeing a bull flag setup on the hourly timeframe.
Expecting KAS to perhaps retest the golden pocket ~61.8-65% Fib retrace lvl, before breaking above the blue resistance line..
Trade active
Short timeframe hourly chart. Bull flag, waiting for potential breakout from golden pocket fib retracement range. Set stoploss below 65% fib retrace lvl, accounting for volatility. Hardly a crash, just a healthy retrace so far. Also, look at the series of bullish divergences that have formed again at the current level of correction.
Note: Adjusted lower the base (100%) of the Fib retracement level drawn.
Trade closed: target reached
LOL!
Note
Breakout, buy order fulfilled.Note
Seeing the amount of extremely strong emotional negative posts everywhere (probably by those who had sold the bottom) -- with the hope that KAS would continue on a downward trend so as to minimize any sense of "regret" -- KAS pumping hard instead would be extremely painful and a "hated pump"; which is usually the perfect catalyst for an impending pump coming up.Note
Furthermore it would be extremely unwise to short a chart with bullish divergence(s) showing up consecutively everytime its price heads slightly lower.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.