Breakout above 18 cents (blue line) from the inverse head-and-shoulder, with a measured move target at 32 cents. Presently establishing support.
Need to successfully hold above the blue 18 cents line and close on the daily above to confirm.
Setting stoploss sufficiently below blue line, accounting for volatility (not exposing where I place my stops).
This chart follows on from my previous analysis:
The crypto market historically tends to move in cycles/phases, with BTC first pumping followed by higher market cap OG tokens, before the capital flows to the midcaps (i.e. KAS) and eventually the microcaps and meme coins (which then marks the time to sell). Just need to be patient and remind yourself of the fundamentals of Kaspa, being the only properly (POW) decentralized crypto that is truly scalable.
Need to successfully hold above the blue 18 cents line and close on the daily above to confirm.
Setting stoploss sufficiently below blue line, accounting for volatility (not exposing where I place my stops).
This chart follows on from my previous analysis:
The crypto market historically tends to move in cycles/phases, with BTC first pumping followed by higher market cap OG tokens, before the capital flows to the midcaps (i.e. KAS) and eventually the microcaps and meme coins (which then marks the time to sell). Just need to be patient and remind yourself of the fundamentals of Kaspa, being the only properly (POW) decentralized crypto that is truly scalable.
Trade closed: stop reached
Stopped out at 16.98 cents.Note
Note
Bought back in at ~15.5 cents, higher-low trend is presently still maintained = still bullish.Setting stop below yellow line.
Note
Bitcoin Dominance had already broken down, so not a bad idea to shift to holding alts such as Kaspa at this phase of the crypto market cycle.Refer to the separate analysis on BTC.D weekly chart here:
Note
Got stopped out again. Target to reaccumulate KAS at 12.7 cents:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.