KDA AnalysisKUCOIN:KDAUSDT KDA failed to rally through resistance (R1) over the weekend and has since retraced to the 38.2% Fib level around $1.15. With the fed announcement likely to stir volatility across the markets I'd wager we likely come down to the area where S1 aligns with the trendline and the 50% retracement level at around $1.10. This also would be the breakout level from the Adam & Eve bottoming pattern formed from the November and Jan lows. Should be a strong level to bounce from, and we'll likely see some attempt here depending on how things react to the fed rate announcement.
Whatever the news, good or bad, I think this bounce probably gets faded. Knowing crypto it will need to break this trend line and consolidate closer to the 61.8% level around $1.03. We'll probably get several touches on $1.00 and maybe one or two wicks below. These will likely get bought up at around .95 cents, which is the 78.6% fib level. Should we rally from there, it would be hard to ignore the possibility that the "Adam & Eve" bottom could actually have been an incomplete Inverted H&S. If KDA can put the floor in at those levels I think it's highly likely.