Moonriver has been one of my secrets and has performed awesome so far, only big things to come once fully deployed...
here: resistance turned support, tested many times (stop hunts), trendline broken and retested, fibb retracement: 78.6 halted by broken trendline retest/support, 61.8 currently holding up.
Ascending waves always form under the red cloud,
After presenting the KSM analysis, the first target was touched (27% profit)
If it crosses the Ichimoku cloud and you do not shop in Pullback, like AVAX, you will only regret it.
A strong trend is emerging to cross the cloud
this is a zoomed in chart from the daily.. so should check that one as well !
If we look at the 4 hours zoomed in on the Handle, it seems to be breaking out already. I would like to see it rise above $317 and continue to race towards the neckline cupline around $351. if it doesn't break through the USD 317 level, we may see a further drop to test the USD 267 zone...
Kusuma on the day...
A Cup & Handle seems to be in the making, we see this pattern regularly at the moment, one of which works out better than the other. So although the bottom of the cup does have a jump in it, it certainly makes sense to keep an eye on the development of this, precisely to see how the possible handle develops. ideally dropping to 1/3 (75% line)...
A synthetic KSM vs ETH chart using Binance price data. ETH has the EIP-1559 catalyst coming up, an overcrowded trade in my opinion while all has been quiet in Kusuma-land since the parachain auctions. Building a position here for the coming month. Hoping the hidden bullish divergence on the 1D chart plays out and we break out of the ‘falling wedge’ pattern...
