Komodo / BitcoinLong
KMD C&H to to .00053
KMD broke out of downtrend a bit ago and has since pushed a first leg up into a correction. That correction has landed right on the 0.618 fib level which is a bullish bounce off from there and now has formed a handle to make a cup and handle. The handle retraced to the 0.5 fib level which both fib retraces are normal cup and handle retraces. Volume profile is right as left of the cup has most volume and it has decreased since and the handle has a decreasing volume profile as well. The handle also retraced right into the strong VPVR order block and has bounced. The pattern will be verified on a break of the cup neckline with significant localized volume.
Target: 0.00053 which is about 15% from price now however the safest way to play this is to enter upon cup break especially with the left side of the cup having a large wick we must have a real volume breakout to know it has broken that resistance.
Target: 0.00053 which is about 15% from price now however the safest way to play this is to enter upon cup break especially with the left side of the cup having a large wick we must have a real volume breakout to know it has broken that resistance.
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