Hello Traders. I hope you are having a fantastic day.
Today I want to talk about KLAY. Well in 4H timeframe, you can see the same pattern happening 2 times before and both times, KLAY has broken the
descending channel upward and has gone up nicely. But what will happen this time?
At this point, I cannot tell for sure what is going to happen. Because when I look at Ichimoku Cloud in 4H timeframe, KLAY has broken the Ichimoku
support downward and it can be a negative sign and also as yellow arrows show, the bullish momentum has kinda gotten weak. But at the same time, at
Daily timeframe, it has a strong support around 2.5$ which is the Ichimoku`s support plus the static support. So I am not sure what is going to happen
exactly. So let`s wait and see what way price is going to.
- If it breaks upward then you can open a long position.
- If it breaks downward then you can open a short position.
I will keep you guys updated on both scenarios and what position to open. So don`t forget to follow me.
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on KLAY and don`t forget to comment what you think. ✌
Today I want to talk about KLAY. Well in 4H timeframe, you can see the same pattern happening 2 times before and both times, KLAY has broken the
descending channel upward and has gone up nicely. But what will happen this time?
At this point, I cannot tell for sure what is going to happen. Because when I look at Ichimoku Cloud in 4H timeframe, KLAY has broken the Ichimoku
support downward and it can be a negative sign and also as yellow arrows show, the bullish momentum has kinda gotten weak. But at the same time, at
Daily timeframe, it has a strong support around 2.5$ which is the Ichimoku`s support plus the static support. So I am not sure what is going to happen
exactly. So let`s wait and see what way price is going to.
- If it breaks upward then you can open a long position.
- If it breaks downward then you can open a short position.
I will keep you guys updated on both scenarios and what position to open. So don`t forget to follow me.
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on KLAY and don`t forget to comment what you think. ✌
Comment:
It touched the 2.5$ zone which was a strong support and has been supported. Let`s see what happens after this.
Comment:
seems like 2.5 is a strong support.
