KAVA Long Breakout Wave 2 + Fundamentals[ENG]
Sooo Kava had some consolidation in a triangle pattern that is clearly visible on 1-2-4 hour charts after its recent breakout.
Fundamentals:
I don't think this is the end of the run as multiple good news surround the strong fundamentals of the coin.
-Increased AUM
-250k new users
-Record breaking adoption numbers
-Mainnet Upgrade 5.0
-Do your own DD to understand why coin behaves in manner X Y Z
-Huobi Integration grows
-Incentives on the testnet starting tomorrow
Technicals:
Fakeout Breakout pattern with limited downside.
Recognizeable patterns
I think here we have two possible entry levels.
I will be:
1) Waiting for confirmation on the 4h after a breakout over 6.73 and closely monitoring how the 1h candles to find an entry.
2) In case of a pullback i can enter at entry 2 points one at ~5.90 one at 5:30 that show limited downside and monitor price action.
SL's i will place below breakout or key resistance level to provide a good upside potential to the trade with a sizeable chunk of capital without much downside.
Not financial advice.
Curious to know your opinions :)
Fundamentals:
I don't think this is the end of the run as multiple good news surround the strong fundamentals of the coin.
-Increased AUM
-250k new users
-Record breaking adoption numbers
-Mainnet Upgrade 5.0
-Do your own DD to understand why coin behaves in manner X Y Z
-Huobi Integration grows
-Incentives on the testnet starting tomorrow
Technicals:
Fakeout Breakout pattern with limited downside.
Recognizeable patterns
I think here we have two possible entry levels.
I will be:
1) Waiting for confirmation on the 4h after a breakout over 6.73 and closely monitoring how the 1h candles to find an entry.
2) In case of a pullback i can enter at entry 2 points one at ~5.90 one at 5:30 that show limited downside and monitor price action.
SL's i will place below breakout or key resistance level to provide a good upside potential to the trade with a sizeable chunk of capital without much downside.
Not financial advice.
Curious to know your opinions :)
Penafian
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