Komodo (KMD) Potential Outcome
Some notes on what I see on a 1D chart for KMD:
- There was a clear bounce off of the diagonal resistance line which validates the trendline.
- A bearish-cross was made around the 11th of February and we are still trading below the baseline (bearish af for the meanwhile)
- Notice how the convergence line (blue line) and the baseline (red line) have deviated away from each other. I expect some sort of consolidation in the short run which will bring those two lines back to normal levels.
- If price bounces off the diagonal support, this may indicate that the 5th wave has finished it's course.
- Still trading below the kumo cloud and haven't had a retest of it since February 17th. We shall see how price reacts to that level once it reaches.
- If Bitcoin goes any lower in the next few days, I believe most Alts will follow, including KMD. This will validate lower lows.
- RSI is also showing oversold levels as well, let's see how much lower this can go.
I am no expert nor a financial advisor. I am merely practicing some new indicators I've learned as of recent. Please be diligent with your research before making any investment. Always remember to protect your capital!
- There was a clear bounce off of the diagonal resistance line which validates the trendline.
- A bearish-cross was made around the 11th of February and we are still trading below the baseline (bearish af for the meanwhile)
- Notice how the convergence line (blue line) and the baseline (red line) have deviated away from each other. I expect some sort of consolidation in the short run which will bring those two lines back to normal levels.
- If price bounces off the diagonal support, this may indicate that the 5th wave has finished it's course.
- Still trading below the kumo cloud and haven't had a retest of it since February 17th. We shall see how price reacts to that level once it reaches.
- If Bitcoin goes any lower in the next few days, I believe most Alts will follow, including KMD. This will validate lower lows.
- RSI is also showing oversold levels as well, let's see how much lower this can go.
I am no expert nor a financial advisor. I am merely practicing some new indicators I've learned as of recent. Please be diligent with your research before making any investment. Always remember to protect your capital!
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