KMD-BTC 165.58% profit potential - Bet on a Decentralized Future
Updated
Presented here is my analysis of KMD, be sure to do your own research. We are in the middle of an overall bearish channel in the market as well as in the middle of a powerful FUD cycle concerning the Tether-Bitfinex scandal. You can do a bit of your own research here 
KMDBTC
On the daily chart we have strong bullish signals that this symmetrical triangle wants to break to the upside. It has attempted to do so a few times but quickly retraced on all occasions. The Ichimoku cloud has flipped bullish on precisely the location where the triangle has reached a point where it can hardly consolidate any longer before making a vital decision. As always I am using the altered Ichimoku settings used by guru Josh Olszewicz ;) You can find an explanation here: youtu.be/J3t2Tsn_Imk.
The declining volume and bullish break of those multiple inside bars at the end of the triangle show us that the momentum is in favor of the bulls, however the current pinch of the overall market on top of the aforementioned FUD has set the bulls back a bit. But all things considered, KMD has weathered the current FUD and market correction cycle incredibly well.
Look closer and you’ll notice that I didn’t even draw a line on that symmetrical triangle — it completed itself via the 50 day moving average. You don’t often see something like that, so I’d say there’s a healthy, sustained growing bullish accumulation going on for KMD.
You’ll also notice that I couldn’t draw but a single line on the RSI to indicate any sort of divergence because it’s so tight — We have a clear indication of hidden bullish divergence with higher lows in price and lower lows on the RSI.
Many people think that atomic swaps and decentralized exchanges will not catch on for a couple more years, but I’d say things are going to move quicker than people think. Considering what’s happening with Bitcoin being declared a hard fork of Bitcoin Cash and Tether blowing open, not to mention some of the largest exchanges out there like Bittrex, Binance, and Bitfinex all carrying the increasingly volatile Tether asset, things can escalate quickly, and in favor of platforms like Komodo. Check out what I mean here: komodoplatform.com/en/technology/barterdex
The Barterdex will be a decentralized peer-to-peer exchange supporting atomic swaps. Meanwhile a couple exchanges are already implementing Bitcoin Cash pairs alongside Bitcoin and Ethereum counterparts. This is all bullish news for the likes of KMD.
You can see a quick review of KMD here youtu.be/bs7gx4PS18Q.
I’m being brave with my profit targets on this one, for a few reasons. One is for all the reasons detailed already, the other is that typically in crypto markets, projected moves from triangle breakouts and continuation patterns can be expected to be double that of their traditional counterparts. Second, when this overall market turns around I expect the value to explode, because those new to crypto are surprisingly more often than not more interested in alternatives to Bitcoin.
Here are your potential profit targets visualized as blue horizontal lines. I added Bollinger Bands for affect - look how tight they’re squeezing ;)
Target 1: 0.00089434
Target 2: 0.00119967
Target 3: 0.00150153
KMDBTCOn the daily chart we have strong bullish signals that this symmetrical triangle wants to break to the upside. It has attempted to do so a few times but quickly retraced on all occasions. The Ichimoku cloud has flipped bullish on precisely the location where the triangle has reached a point where it can hardly consolidate any longer before making a vital decision. As always I am using the altered Ichimoku settings used by guru Josh Olszewicz ;) You can find an explanation here: youtu.be/J3t2Tsn_Imk.
The declining volume and bullish break of those multiple inside bars at the end of the triangle show us that the momentum is in favor of the bulls, however the current pinch of the overall market on top of the aforementioned FUD has set the bulls back a bit. But all things considered, KMD has weathered the current FUD and market correction cycle incredibly well.
Look closer and you’ll notice that I didn’t even draw a line on that symmetrical triangle — it completed itself via the 50 day moving average. You don’t often see something like that, so I’d say there’s a healthy, sustained growing bullish accumulation going on for KMD.
You’ll also notice that I couldn’t draw but a single line on the RSI to indicate any sort of divergence because it’s so tight — We have a clear indication of hidden bullish divergence with higher lows in price and lower lows on the RSI.
Many people think that atomic swaps and decentralized exchanges will not catch on for a couple more years, but I’d say things are going to move quicker than people think. Considering what’s happening with Bitcoin being declared a hard fork of Bitcoin Cash and Tether blowing open, not to mention some of the largest exchanges out there like Bittrex, Binance, and Bitfinex all carrying the increasingly volatile Tether asset, things can escalate quickly, and in favor of platforms like Komodo. Check out what I mean here: komodoplatform.com/en/technology/barterdex
The Barterdex will be a decentralized peer-to-peer exchange supporting atomic swaps. Meanwhile a couple exchanges are already implementing Bitcoin Cash pairs alongside Bitcoin and Ethereum counterparts. This is all bullish news for the likes of KMD.
You can see a quick review of KMD here youtu.be/bs7gx4PS18Q.
I’m being brave with my profit targets on this one, for a few reasons. One is for all the reasons detailed already, the other is that typically in crypto markets, projected moves from triangle breakouts and continuation patterns can be expected to be double that of their traditional counterparts. Second, when this overall market turns around I expect the value to explode, because those new to crypto are surprisingly more often than not more interested in alternatives to Bitcoin.
Here are your potential profit targets visualized as blue horizontal lines. I added Bollinger Bands for affect - look how tight they’re squeezing ;)
Target 1: 0.00089434
Target 2: 0.00119967
Target 3: 0.00150153
Note
Disclaimer: All trading ideas are my own and the information here is for educational purposes only; not trading advice.Trade active
If we allow the 50 MA to complete the symmetrical triangle and count these diagonal lines as the major trend lines of the descending channel, plus the bearish cross of the 50 and 200 MA approaching, things are looking more bearish for KMD. There is also more price contraction here, with an inside bar forming on the daily and a flag on the 4H that is too neutral to call. I'll search for potential Elliott wave targets.
The fundamentals are still very strong, keep that in mind. This would be a better time to wait for confirmations and potentially scale in at lower prices.
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KMD-BTC Bittrex | Looking good, I am still holding this asset long-term. 1H chart nearly complete edge cloud break, finding resistance below the 200SMA after breaking out of the previous channel just after a bullish inside bar break (I mentioned that the curvature of the chart appeared to reveal that the price floor was nearly established).
4H chart is setting up for a test of the bottom of the Ichimoku cloud before we may see another stronger edge-to-edge break. I'll be watching for possible higher lows to form and some equilibrium and formation of a 4H inside bar.
Happy trading! Roti out.
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KDM-BTC Bittrex | Smashing it! 4H timeframe making an edge-to-edge cloud break, will it make it all the way in one run?
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