KMD rocketed past the 200 MA all the way into the major daily block where there was clear rejection. The retrace is almost fully complete and KMB is experiencing a massive falling wedge. The end of the wedge is falling perfectly into the target buy zone and RIGHT at the 50 MA! This is prime for long opportunity as a bounce is expected at 840-860 sats. The...
BINANCE:KMDBTC ascending triangle formation on the move, will probably see another touch bottom before moving up, the chances of success are quite high as RSI shows continued signs of accumulation.
Target 1: 0.0001119
Target 2: 0.0001219
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Entry : 990 - 955 - 900
Target 1 : 1077
Target 2 : 1138
Target 3 : 1200
Target 4 : 1285
Target 5 : Hold
Stop loss : 863
The price may drop to good places to buy so do not rush and wait for the right point to buy
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With Komodo (KMD) up big recently, it gives us a moment to reflect on an earlier bullish idea in this coin.
KMD was the coin that convinced us to change our view on altcoins. We were fortunate to see the breakout here. That led us to believe that a range in Bitcoin (BTC) was an opportunity for altcoins to rally.
Bottom Line: Right now, KMD is at significant...
Flipping into support the ~10.2k sats level with UCTS indicator showing buy signals across the board..
Golden cross can be spotted on the 8H (EMA50/200)
RSI at overbought
If volume keeps flowing in from here, then we can aim for higher targets at ~11700/ 13470 sats
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. 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 64.
. There is a possibility of temporary retracement to suggested support zone (0.00007270 to 0.00005355). if so, traders can set orders based on Price...
Near term look at the strong bounce today.
Bounce wave may have ended at blue 4,236
May hit the 4.618 before significant pullback.
If retrace starts, then keep an eye on the green zones.
Reaction at each fib line and zone will offer more clues.
Or if we surpass the blue 4.618 then I will re-evaluate.
The Purple Fib is from this big picture...
Some volume coming in over the last days; currently at resistance with minor bearish divergences on lower TF's; I think we might be able to squeeze another +18% out of this run, however taking profit at resistance is usually smarter than holding on to a prayer.
You may have noticed that we are done telling people not to chase altcoins. That's one thing. It's another thing to say to people to buy an altcoin at resistance. That seems crazy, and it does not always work.
In the case of Komodo (KMD), it might. We are noticing that Komodo (KMD) has already taken out its previous 4th. That means it has moved past the point...