Draw some Kava support lines. Signals are not positive.
If we are able to maintain 2.1 support line we can bounch to higher levels. If we loose support of 2.1 we can go to the next lower 3 support levels.
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this is not a financial advice. Just my two cents of learning analyzing the waves.
KAVA consolidated quite well over the time and did a double bottom pattern on daily, after the break of the big wedge.
Such price action is a good base for run and I expect slow climbing of KAVA. This is a good SWING trade idea.
Take with risk management! Good luck!
💎Technical Analysis Summary💎
BINANCE: KAVABTC
-KAVA is back at a key level of support after toping out from the 23000s sat area
-This is not a good sign in terms of bullish price action
-If this level of support becomes weaker, it will likely to breakdown soon
In-Bearish scenario, the next key support is somewhere around 12000 sat area
-Always prepare for both...
KAVA has a very good R2R trade idea. Currently they are 3 main patterns which mix in different timeframes.
1) In 1D KAVA is in big H&S pattern and "blue" line in chart is the resistance zone. IF this breaks will be the best scenario.
2) On 4 HRs frame we have a good trendline which holds the current move from 24th. If this holds in next few days will be good...
