Komodo (KMD) Potential Outcome
Some notes on what I see on a 1D chart for KMD:
- There was a clear bounce off of the diagonal resistance line which validates the trendline.
- A bearish-cross was made around the 11th of February and we are still trading below the baseline (bearish af for the meanwhile)
- Notice how the convergence line (blue line) and the baseline (red line) have deviated away from each other. I expect some sort of consolidation in the short run which will bring those two lines back to normal levels.
- If price bounces off the diagonal support, this may indicate that the 5th wave has finished it's course.
- Still trading below the kumo cloud and haven't had a retest of it since February 17th. We shall see how price reacts to that level once it reaches.
- If Bitcoin goes any lower in the next few days, I believe most Alts will follow, including KMD. This will validate lower lows.
- RSI is also showing oversold levels as well, let's see how much lower this can go.
I am no expert nor a financial advisor. I am merely practicing some new indicators I've learned as of recent. Please be diligent with your research before making any investment. Always remember to protect your capital!
- There was a clear bounce off of the diagonal resistance line which validates the trendline.
- A bearish-cross was made around the 11th of February and we are still trading below the baseline (bearish af for the meanwhile)
- Notice how the convergence line (blue line) and the baseline (red line) have deviated away from each other. I expect some sort of consolidation in the short run which will bring those two lines back to normal levels.
- If price bounces off the diagonal support, this may indicate that the 5th wave has finished it's course.
- Still trading below the kumo cloud and haven't had a retest of it since February 17th. We shall see how price reacts to that level once it reaches.
- If Bitcoin goes any lower in the next few days, I believe most Alts will follow, including KMD. This will validate lower lows.
- RSI is also showing oversold levels as well, let's see how much lower this can go.
I am no expert nor a financial advisor. I am merely practicing some new indicators I've learned as of recent. Please be diligent with your research before making any investment. Always remember to protect your capital!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.