KAVA Correction Incoming?
Updated
KAVA (KAVAPERP) has had quite a run up in the last +7 days, of around 45%.
Once again it has reached the top of the channel and is right in the Golden Pocket of Fibonacci Extension.
Taking into account that it's the weekend and confluence between Channel top and Golden Pocket, I expect a mild correction.
If the price breaks below 0.618:
First Target is 0.5 (~5.25)
Second Target 0.382 (~5.10)
Third Target 0.236 (~4.92)
When in trade I keep to a strict Risk Management plan and keep an eye on BTC.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
KAVAPERP
KAVAUSDTPERP
Once again it has reached the top of the channel and is right in the Golden Pocket of Fibonacci Extension.
Taking into account that it's the weekend and confluence between Channel top and Golden Pocket, I expect a mild correction.
If the price breaks below 0.618:
First Target is 0.5 (~5.25)
Second Target 0.382 (~5.10)
Third Target 0.236 (~4.92)
When in trade I keep to a strict Risk Management plan and keep an eye on BTC.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
KAVAPERPKAVAUSDTPERPNote
Price got rejected from a Resistance of December 2nd High of ~$5.5805.I'm expecting a retest in the near term, but January 15th has presented several very good scalps on KAVA.
Correction still in play, I will wait for when and if the retest of the Resistance happens (~$5.5805).
Have a Great weekend!
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
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