KAVA.BTC (Y20.P3.E4).Cup and Handle

١٦ أغسطس ٢٠٢٠

Hi All,

*** This is a component of the previous KAVA.BTC post > Link below ***

Hence supporting my thesis that this coin is in its early phases of doing a Parabolic run.

The chart tells its all.
Note, it did well with the btc dominance bounce and likely to keep doing so.

How to trade this?
2 options to consider:
a) You can wait for the 6 hrly candle to close before jumping in
b) Look for the retest of the support line
Its possible both will be covered in the 6 or 8 hrly window.





Please give me a tick or like for this post.
Enjoy!


Regards,
S.Sari

PREVIOUS POST

١٦ أغسطس ٢٠٢٠

ملاحظة

Even the 15 min chart makes sense

١٦ أغسطس ٢٠٢٠

ملاحظة

١٧ أغسطس ٢٠٢٠

ملاحظة

KAVA.USDT CHART in progress

١٧ أغسطس ٢٠٢٠

ملاحظة

So there you go, it retested that resistance level, with a nice wick.
I have seen times where its goes much lower to shake out those who are not confident in the strategy, they really know how to work this. The target remains but the journey getting there is hard.

١٧ أغسطس ٢٠٢٠

ملاحظة

KAVA.USDT > I suppose the channel might be an indicator of price action being consistent.

١٨ أغسطس ٢٠٢٠

ملاحظة

١٨ أغسطس ٢٠٢٠

ملاحظة

Using some traditional tools, we can observe the following:
RSI reflecting the squeeze with the rising wedge and I think there is one more left to hit the target from this Cup and Handle formation. Then its likely to pull back hard.
Having this in mind, I think BTC will also have 1 more price rise before it pulls back.
Question is, is it 12800 range, 13k or 13500.
I'm starting to think 12750.

١٨ أغسطس ٢٠٢٠

تم حذف الأمر

I have now changed my mind, BEARISH scenario.
KAVA.BTC, cup and handle structure it is not validated or confirmed by this drop.
I see this happening now, similar to LEND.BTC

١٨ أغسطس ٢٠٢٠

ملاحظة

With KAVA I think the pullback will be to 0.5 fib level which has confluence with the trend line and the weekly resistance level + what looks like the weekly 21 EMA.