Komodo / BitcoinLong
KMD looking strong
Updated
For the past couple of months alts have mostly been countertrending BTC. When BTC made a another bullrun, alts suffered.
The same happened with Komodo. However, with their first ICO (Monaize) launching on nov 11th, this countertrend seems to have stopped 2-3 days ago. Despite the strong BTC bullrun in the past couple of days, KMD did not decline like most other alts, but kept its value. Meanwhile, volume is coming in.
In a larger timescale, KMD looks to have reached the bottom and indicators are starting to line up with their values of the previous run-up in the beginning of september:
The same happened with Komodo. However, with their first ICO (Monaize) launching on nov 11th, this countertrend seems to have stopped 2-3 days ago. Despite the strong BTC bullrun in the past couple of days, KMD did not decline like most other alts, but kept its value. Meanwhile, volume is coming in.
In a larger timescale, KMD looks to have reached the bottom and indicators are starting to line up with their values of the previous run-up in the beginning of september:
Note
I recently started to look into the DeMark indicator as some analysts I respect a lot (ToneVays and @MPovolotski , look them up on Twitter) use it a lot. I will not explain this indicator (Google is your friend) but I noticed that KMD followed it perfectly at the last bullrun. Notice how the TD CountDown timer completed a 13 count exactly before before the previous bullrun. Currently the timer is at 8, so if it's going to repeat itself it might take 2-3 weeks before a next big move up. If you sell at a smaller run during up the coming days, keep on monitoring this indicator as a big run up could still be in the works. I'm using the indicator "Tom Demark Count by Jan WillemDe Korver", by the way
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.