KADENA - UPDATE! (FALLING WEDGE👀)In our first Kadena (KDA) analysis we predicted the drop from ath's and identified buy areas to scoop up a few as shown below:
After getting our DCA zone we then updated the chart again but have had a hard time getting our Wife Changing Money Area ever since:
In this update, from the chart above, we can see that price has managed to form what looks to be a falling wedge pattern which we failed to take note of the previous analysis. Pray this be a falling wedge pattern, we can expect price to touch support once more before heading for a breakout (as we know a pattern of this sort usually has it's breakout moment near it's apex).
Note that it can be both a continuation pattern and a reversal pattern, so make sure to use a stop-loss if you aren't in it for the long haul.
Should that not be the case, we can expect to continue our Dollar Cost Average Strategy till we get our WIFE CHANGING MONEY ZONE
- 19 year old
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As always, feedback is appreciated!🙏
K
