I'm going in for some newer coins and this one is lower ranked, currently 99.
KDA has had one bull rally while BTC rallied to a corrective top.
This is a nice clean chart for fibs. KDA has hit the log 1:1 extension from the November top and currently sits just below.
And this is also within a very common reversal area from 0.618 - 0.786.
It is possible however that KDA could move down to the next fib extension - the 1.618 @ $0.5, but unless BTC falls sub 15K I can't see that happening and I dont think BTC will.
So therefore the 1:1 I am fairly confident will be what I would call the "anchoring fib." KDA can continue to fall but I would expect it to reverse within the vicinity of the 1 and not the 1.618.
Also RSI is way down - 20% below the low.
Now in terms of upside if KDA did print only a retracement from the November high then the common upside reversal area would be around $11 - $14.
However with these newer coins there is the possibility that even only as BTC bounces they could go on another bull rally and find a higher high.
A log 1:1 extension would see KDA hit a whopping $123! That would approximately be a x100!
Thanks to @mrdeadly for the tip on this one.
If you're a crypto kid deep in crypto land and know of great new coins do feel free to let me know
Not advice.
KDA has had one bull rally while BTC rallied to a corrective top.
This is a nice clean chart for fibs. KDA has hit the log 1:1 extension from the November top and currently sits just below.
And this is also within a very common reversal area from 0.618 - 0.786.
It is possible however that KDA could move down to the next fib extension - the 1.618 @ $0.5, but unless BTC falls sub 15K I can't see that happening and I dont think BTC will.
So therefore the 1:1 I am fairly confident will be what I would call the "anchoring fib." KDA can continue to fall but I would expect it to reverse within the vicinity of the 1 and not the 1.618.
Also RSI is way down - 20% below the low.
Now in terms of upside if KDA did print only a retracement from the November high then the common upside reversal area would be around $11 - $14.
However with these newer coins there is the possibility that even only as BTC bounces they could go on another bull rally and find a higher high.
A log 1:1 extension would see KDA hit a whopping $123! That would approximately be a x100!
Thanks to @mrdeadly for the tip on this one.
If you're a crypto kid deep in crypto land and know of great new coins do feel free to let me know
Not advice.
I'm taking a break from TradingView but you can find me every day in my Telegram Trading Group 🧐
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Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
It may of course pull back if/when BTC does.