Long
KMD/BTC - riding the 5th wave
Pretty textbook setup, for riding 5th wave. 3rd wave get out of the channel, with strong volume, hitting 1,618 fib extension of 1st wave, so everything fits. Now price MUST NOT get below TOP of the 1st wave, otherwise we are not dealing with 5-wave structure. Target is aproximately at 1050 satoshi, so if you enter trade right now, RRR would be 3, which is good.
Order cancelled
KMD/BTC hit invalidation level, so this whole move was probably only ABC correction and price will be heading below previous swing low at 471 sats.
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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.