KASBTC Break Out Incomming?KASPA has been bleeding agains BTC for the better half of a year and has clearly formed a bullish falling wedge structure in the KASBTC Pair.
KASPA vs Stables has been trading in a range for 14 months with the range low coming in around 0.10 and the range high around 0.19 based of Volume Profile.
Is KASPA about to bottom out against BTC and start another huge move that greatly outperforms its BTC pair? for this to happen we would have to also see a break of this 14 month range to the upside and we can only expect the move to be extremely violent considering the amount of time the asset has consolidated.
KASUSDT Macro indicators are all oversold with the weekly stochastic RSI touching true zero for the fist time since the asset was trading for 0.015. with a potential higher high in the Stochastic wave and in the weekly price action I am looking for Bullish Convergence to print shortly after KASPA moves back above 0.128. Additionally the Weekly MACD moving averages is set to print a lower low tonight while KASPA price action trades in a small higher high range printing large time frame Bullish Divergence on the MACD.
Obviously I am watching BTCUSDT closely to avoid getting into a position that looks good technically but maybe lost simply from the over all market moving down. But, I don't see how BTC doesn't continue in the next week as Trump takes office and the FED continue to move towards one of their two scheduled rate cuts.
Regardless KASPA at its current price of 0.118 is an excellent buy with fibonacci targets as high as 0.51 for a range break out. I expect any price break down from this current level to be bought up very quickly.
