Swoop6

Swoop6

The time has come for the music to stop for kaspa - Expecting this to enter a long corrective phase...damp it.

Swoop6

Like many alts I think they have put in major cycle tops and we're at the start of a nasty deep correction - this will go down as one of the slickest bull traps ever.

Swoop6

Many ppl love this coin and CT shills it super hard - I can see potential here that 5 waves have been completed and we're at the beginning of a massive correction.

Swoop6

Plotting what I think may be the corrective bear targets - Structure wise it's difficult to say a bottom is currently in after retracing so much of our previous leg - hence why my bias has shifted thinking we have not finished correcting.

Swoop6

Could be forming a massive bull trap here - yes our initial dive is quite large and could be perceived to be a bottom but my bias has changed recently and I'm entertaining this possibility.

Swoop6

Making this under the assumption that we're in a larger bull trap and the correction is not yet complete - I have marked 2 target areas where I think this may stop.

Swoop6

So after the recent moves I've had to start questioning if 56k was the bottom and if this is a normal bull retrace ( it don't look like one) - moving forward I have marked 2 areas where I think the correction will likely end if we're in a larger correction.

Swoop6

One of the better alts in crypto with a good scam narrative behind it - it's getting close to a critical point which I believe will be the bottom of this correction and we will blast way higher once it's completed.

Swoop6

We're now reaching the point where we probably should start climbing higher again if this is bullish - if we break above our red fork expect fireworks to the upside - The bear case in the short-mid term is quite obvious to me (if we break 56k~ I'm expecting 40k) from here I will be buying again with the thesis it's still a bull trend but the cycle will just last longer.

Swoop6

I believe this will be one of the large winners this cycle and is currently quite unknown to the majority of crypto ppl.

Swoop6

Cat season is def coming and this chart setup looks great - correction looks to be just about done and I'm of the belief we will go parabolic...to the MEOWN!!!

Swoop6

Just going through alt charts where the setups look good and what I assume are somewhat leaders in this cycle - fractal targets are derived off fibs but are just a base level visually what I believe to come - they can easily be much more.

Swoop6

Like many charts they look too good to pass on - yes we can always go lower but It won't matter in 6-12months - this is already established as an early winner in this cycle so it makes sense to own it.

Swoop6

After going over charts I think I'm seeing things clearly for what they are - Yes we can fall more in the short term but it's only another buying opportunity if it comes and just means the bull cycle will start from a lower base and last longer - I'm anticipating full on FOMO to come into these markets like we saw in 2017 gl.

Swoop6

I'm of the belief time is running out to accumulate quality memes/alts and we're not far off a huge alt season - many seem to think it's all over and they will as usual be terribly wrong - I'm expecting crypto to run hard for another 6-18months once we finish correcting - I've made this idea to look back on all these tickers so I can laugh how cheap they once were.

Swoop6

Not really worried about short term downside if more comes...I'm confident in my alt season view and see this as an easy swing trade well into next year.

Swoop6

So after going over many charts I'm of the belief alts have been front running BTC in fractal nature - this could mean BTC has a lot more downside in the shorter term (purple plot) or the other takeaway could be that BTC has done a really shallow retrace before getting ready to blast higher (white plot) - no matter how I slice it the end result looks to be prices...

Swoop6

After going over many charts I've come to the conclusion that most moves are big wave 1-2s and we're currently working on completing the 2 - bias is we're in for a big alt season and this market will trend higher for some time.