Today i will try to explain how to play with Kava in a simple way.
- Remember always that in Cryptos are not easy as forex or stocks, because movements are always brutal.
- The first step is always to detect the real trendline.
- Detect 3 points. Bouncing Points, Rejection Points.
- Some traders use only 2 points, but i am old style trader, so i really need 3...
All my KAVA indicators are set to green and with our VRVP PoC under price as support along with our 50/200 SMA's, I think entry here in KAVA is of good value. I will be targeting .87-.88 cents with a SL just under the 200 SMA at around .72 cents. The RRR here is 1/2. Not bad for a likely 14%+ profit potential.
RSI at 60 with plenty of room to climb. May high of 1.71.
Stochastic RSI pointing ABSOLUTELY STRAIGHT UP!!!
Breakout of triangle, if it can cross resistance of 85-90 cents, can easily make it to 1.28. Total return would be 54%. Support at about 74 cents.
Lines, lines, lines... And rectangles.
The correction from 23-May through 13-June hit below the 0.786 Fib. retracement level relative to the entire wave that started in early January.
KAVAUSD
What this means is that the correction is over and went full circle, complete.
If the correction is complete then the focus goes to the proceeding move... So many ways to...
A bull flag and also an inverse Bart from a bear flag. Price action may find resistance temporarily at the 200 ma(in blue), but if so watch for the 50 ma (in orange) to maintain support to increase probability that price will overcome the 200ma and continue towards the breakout targets. *not financial advice*
KAVA on the daily chart has reached the top and broke through the channel. Currently inside the ICH cloud. keeping an eye to see if its rejected on the 50 sma or breaks through and holds. Seems to be bullish signals on the 1 hour charts but thats a little to low to comfirm a bullish break. As always not finiancil advise, so its not.
Kava/ KAVAUSD is trading inside a Channel Down on the 1D timeframe.
Today it is testing the 1day MA200 for the first time in 6 weeks.
If it closes a candle over it, buy and target 1.09000 (58.70% rise).
If it closes under it, sell and target 0.69000 (Support A).
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Bullish indications:
HHHL
Bounce from support
currently at higher low with bullish engulfer candle
Fib level 0.318
Divergence from the bottom.
Trade Plan Bias Long @ 1.045
SL: 0.9948
TP1:1.0982
TP2:1.1291
KAVAUSD is making a nice a-b-c pullback within wave B/2 after an impulsive rally into wave A/1 from the lows. It's currently already sitting at interesting 0.80 support area, from where we may see a continuation higher into wave C or 3, especially if we also consider nice and clean inverted Head&Shoulders pattern.
Technically speaking, if the price rebounds back...
Enough touches on the weekly chart on both trendlines to make this a legitimate falling wedge. We’ll see soon enough if it validates or not. *not financial advice*
KAVAUSDT could be bullish if resistance highlighted in chart is penetrated. Make sure highlighted support is not broken down which then becomes bearish
all that cryptos and more has the same pattern that means we need to be prepared for another possible crash like in june or may .
Don't forget we are in a recession
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