WouterNRS

KMD/BTC rather bullish 😂

Long
BINANCE:KMDBTC   Komodo / Bitcoin
Absolutely love the Komodo Bitcoin pair's weekly chart.

KMD has been in a falling wedge since 2018 and might be ready to break out and go for a big run up.

TA

- Falling Wedge --> Bullish pattern

- Long term Bullish Divergences on OBV and MACD . More recently Willy and Stochastic joined the bullish div party. 🥳

- Risk to reward (0-ATH) 34:1 <-- that's huge.

- Both Stochastic and Willy are Oversold

And to top it all off there are W's everywhere.

So could you enter now? I'd say yes but just to be sure it's safe to split your investment into 3 parts. 1 part can be used to enter before breakout, 1 part at breakout and 1 part at retest of breakout.

I'm going Little Old Lady on this one so no need to set targets. I'll just be counting doubles.

The Little Old Lady Technique comes from Brian Beamish and goes as follows:

Here you take the average buy price and sell half of the asset every time it doubles.

So at 100% sell half, at 200 % sell half of what's left and so on!

Let's see how many doubles we can get from this pair.

Cheers,

W