KMDBTC moving in rising channel after breaking out from the corrective falling wedge pattern.
Kindly follow the suggested accumulation zone on the chart and always remember to apply stop loss.
BLUE: POSSIBLE ENTRY ZONE
RED: Possible Support LEVEL
GREEN: SELL TARGETS
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I am not familiar with the fundamentals of this coin, nor have I read any news about it.
However, a very good example of a Wyckoff accumulation range, complete with the matching volume profile on each step and phase of the accumulation has been formed here.
Waiting for the last step before the markup (phase E) begins.
Needs to show a "sign of strentgh" (SOS) ...
Trade Duration: Medium
Komodo (KMD) began trending upwards moments prior to the beginning of December, showing strength throughout the move. Komodo is one of the top Cryptocurrencies with regards to the public development repositories.
- Good Volume
- SQZ Signalling Mid-Term Bullish ...
Daily timeframe looks good.EMA 200 could act as resistance, thats where i put my first target. But my guess is we will break it and go towards the previous high where we saw some harder resistance.
KMD is getting supported by a bunch of moving averages on multiple timeframes.
Lower timeframe indicators tell me we could go down a bit before making another run. 15 ...
Hi friends! Welcome to Poop's Wyckoff Analysis on Komodo.
Ever since I learned about Wyckoff Method, I began to include it in my trend trading strategy for the simple reason that it is among the best tools a trend trade could use to spot bottoms and top formation. Today I'm showing you how it looks on $KMD Chart and hopefully aid you in your trading.
$KMD is on ...
. KOMODO/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
. There is a possibility of temporary retracement to suggested support zone (0.00017200 to 0.00015600). if so, traders can set orders based on Price ...
Targets line up nicely with the fib levels on the chart.
Levels of support currently highlighted in turquoise.
Maxx Momentum is currently up during a weekly squeeze so the set up looks decent here on KMD.