Kava / TetherUSUpdated KAVAUSDT is inside the BullFlag
KAVAUSDT has tested the demand zone at the 0.8$ area, indicating that there was significant buying pressure from traders at this level. Since then, the price has been moving upwards and is currently testing the upper dynamic resistance level within a bull flag pattern.
The bull flag pattern is a bullish continuation pattern that forms when there is a strong uptrend followed by a consolidation period in the form of a downward sloping flag. This pattern typically indicates that there is still strong buying pressure in the market, and traders are taking a brief pause before continuing to push the price upwards.
As per Plancton’s Rules, a breakout from the upper dynamic resistance level within the bull flag pattern could be an indication of a new long position. This means that if the price of KAVAUSDT breaks above the upper dynamic resistance level within the bull flag pattern, it could be a good opportunity to buy and hold KAVA with the expectation that the price will continue to rise.
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Follow the Shrimp 🦐
Keep in mind.
The bull flag pattern is a bullish continuation pattern that forms when there is a strong uptrend followed by a consolidation period in the form of a downward sloping flag. This pattern typically indicates that there is still strong buying pressure in the market, and traders are taking a brief pause before continuing to push the price upwards.
As per Plancton’s Rules, a breakout from the upper dynamic resistance level within the bull flag pattern could be an indication of a new long position. This means that if the price of KAVAUSDT breaks above the upper dynamic resistance level within the bull flag pattern, it could be a good opportunity to buy and hold KAVA with the expectation that the price will continue to rise.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Trade closed: target reached
Note
42% 
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