KSM - Kusama Making a Break For it? Potential to Buy the Retest?
Updated
Looking at KSM today, we saw 13% growth in a single candle and have seen the value double over a 30 day period.
If you want to see an "awakened" bullish chart, this is a nice one. Very linear movement until suddenly *POP* it's in volatility land banging off high level resistance levels like it forgot they were there for a day or two.
And interestingly, fairly low volume on the breakout with it further weakening as time goes on. Volume is always a key element of these things, as low volume can open up points for a retest.
Keep in mind the looming spectre of BTC wiping the market with another shakeout.
With these factors taken into account, along with a massively overbought RSI. I'd expect a quick rejection fairly soon, likely at the next marked fib level, back down to top level support. From there we'll have to see where the volume goes. If we get decent support expect it to move right back up again for us and hit the next two targets at least.
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This isn't dating advice. Nor is it financial advice.🤙
If you want to see an "awakened" bullish chart, this is a nice one. Very linear movement until suddenly *POP* it's in volatility land banging off high level resistance levels like it forgot they were there for a day or two.
And interestingly, fairly low volume on the breakout with it further weakening as time goes on. Volume is always a key element of these things, as low volume can open up points for a retest.
Keep in mind the looming spectre of BTC wiping the market with another shakeout.
With these factors taken into account, along with a massively overbought RSI. I'd expect a quick rejection fairly soon, likely at the next marked fib level, back down to top level support. From there we'll have to see where the volume goes. If we get decent support expect it to move right back up again for us and hit the next two targets at least.
--
This isn't dating advice. Nor is it financial advice.🤙
Note
tp 1 hit
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