KAVA.BTC (Y20.P3.E3).Gems in the making.No.3Hi All,
This post is part of a series of posts that I have started with parabolic curve signs and hence the title association Gems in the making.No.x
<<< Note: This title is associated with all parabolic curve charts or likely to be as per yesterdays post on LEND.BTC >>>
KAVA is part of the DeFi group and looking at the overall view so far, chart below, we can see how its progressed.
If you refer to my previous post on LEND.BTC, I touch on the points of Base1, Base2, Base3 and Base 4 to then extend beyond the Arc to complete the cycle.
LINK.BTC is doing this right now. Refer to link supplied below for further background information.
OBSERVATIONS:
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> It is early stages but what I have quickly learnt about parabolic curves is that they move away from the channel path aggressively, just like Kava btc pairing now;
> Current price action is below another FIB. extension target and is consolidating into what seems a ascending triangle;
> The daily Phoeix supports the thesis that it will go sideways for now with slight downward pressure; Green RSI crossing over Red RSI with gray pressure moving upwards, meaning sideways action.
> The Phoeix outlook on the 3 day and onwards is all upwards pressure;
> Daily chart, the 21, 34 and 50 EMA from the price action, demonstrating aggressive movements;
> Daily Macd looking for a bounce off the signal line;
THOUGHTS:
> If the current price breaks this level in the coming week, it will give us the arc we are looking for, hence confirming the parabolic curve;
> How to trade this > go long and go to the smaller time frames be it 4 or 8 hourly chart and enter as the chart below.
Otherwise wait for the breakout and retest of this resistance line (place order there), but you risk missing out.
Please dont forget give me a like or tick for this post as I would like to see my charts not only succeed but also get more exposure out there.
Regards
S.Sari
Macro overview:
Daily chart:
Note the 21, 34 and 50 EMA from the price action, demonstrating aggressive movements
Entry level, if you haven't bought yet
