Long

KDA/USDT

Updated

Not a financial advice

Potential Inverse Head and Shoulders pattern on 4H timeframe

If we manage to break a downward resistance line and successfully retest it after we can continue growing to 2-3$ area in future with starting price rates at 1.2$ - 1.4$

As for me, I will keep KDA on spot and await to see where KADENA team leads us, 2023 year is promising

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After a short rally, price has corrected and as for now, IMHO, we have a Cup&Handle pattern on 4h+ timeframe with the target around 1,25$

None of these is a financial advice, do you own research

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As for now, we are stuck at 1$ support area, if we break and go below 0.97$ area, then most probably we can expect another visiting of 0.85$ level, let's observe

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We have printed a lower low and lower high on 4H timeframe, which is not a good sign but it can be a market manipulation before CPI data release, let's patiently await

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Short update: if we manage to go upward and stay above 1.03$, then we have some decent chances to continue upward movement to 1.2$ - 1.3$

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I do not want to post a new chart yet, but I checked KDA chart on COINEX as it has more information and it seems we have broken upward a falling wedge with ATH at 3$, hence as for now we can reach it within the next months

Nevertheless, we still have to break upward our Cup and Handle pattern

Not a financial advice

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4H timeframe is not looking good, KDA and a whole market is following BTC

We might see a final bottom-capitulation on BTC before an uptrend

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As for now, we are most probably going to retest our support zone at 0.85$ or going lower, even 0.5$ is possible, let's await and see

We also might end up in a bear trap if BTC maintains 16450$

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Cup&Handle was invalidated but we might end up forming Double Bottom on 1D timeframe with the 1st target around 1.35$ and 2nd target around 1.7$

Let's await whether it occurs

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Not 100% sure yet, but we might be about to break our downward resistance line, huge Falling Wedge patter with the potential of 3$ and locally we can be forming and breaking our Double Bottom formation on 1D timeframe

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Still unable to break downward resistance, we can visit 0.85$ or lower if BTC makes lower lows

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As for now if BTC does not fall under 16500$ we have decent chances to form Double Bottom on 1D timeframe with the first target 1.3$

We also have Bullish Divergence on 1W timeframe and if we manage to close above 0.91$+ we will have Bullish Engulfing on 1W as well which is extremely a good sign

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1W Bullish Engulfing candle, I am expecting 1,07$ soon, not a financial advice

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Not a financial advice, as for now we follow BTC trend and BTC is getting overbought, USDC.D and USDT.D are getting oversold on a chart, which signals that we may face a correction soon, do not forget to lock profits

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Not a financial advice

We have an open GAP on BTC CME futures and there is a high probability we will close it soon, also per USDT.D and USDC.D(both oversold per RSI) show potential local correction

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Hope you did lock some profits and re-bought lower, CME BTC gap has not been filled yet, I am expecting it to get filled first before we can climb higher

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Not a financial advice

I might be wrong but I have sold my KDA pack at 1.31$ to lock profit, I will be waiting for correction as we are currently at support zone per USDC.D

We also have 2 unfilled gaps on CME

Therefore I will try to re-purchase at around 1.18$ area

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Not a financial advice

I decided to re-buy at around 1.28$ after some re-evaluation and just hold it, on a 1M chart we have a potential bullish engulfing and deep oversold per MFI(money flow index) on 1M candlestick as well

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Not a financial advice

I am waiting until 3D candlestick gets closed, as for now it gets closed with a upper wick which means sellers are taking control for now and at this point I would expect some correction before we proceed further

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We need to get closed above 1.35$ which is our 200MA on daily timeframe, if we do so we will have an uptrend. As for BTC I am expecting to see 30k within the mid term

Trade closed manually

1.7$ might be next but not yet confirmed, need to wait until weekly candle gets closed

I will also post a new vision with the chart

TradeYourLogic

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