Komodo - Fundamentally Great and Bargain Buy!

BITTREX:KMDBTC   Komodo / Bitcoin
Komodo, great coin with a great team and a great month ahead.

Not a particular marketing wise great team, but what I've seen from them development wise, they have a bright future coming.

For this I've the Komodo / BTC chart. Let's first discuss the Komodo / USD chart a bit.

Conclusion: the same as Stratis. Retraced all the way back towards the support box around $2.30-2.70, which it has been in at the beginning of Q4 2018 and which is a pretty big support area . Falling wedge scenario, small bullish divergences on the daily can be seen too. Bollinger Bands squeezing, so there's some volatility coming.

Then we've the Komodo / BTC chart, a chart I've discussed earlier with Elliott Waves , which I won't be using now.

Again a falling wedge , after the same falling wedge from September towards December. Pretty massive breakout afterwards.

Right now, pure technical:
- Bullish divergence on the rSI
- Bullish divergence on the Stoch RSI
- Bullish divergence on the CCI
- Bullish divergence on the MACD
All on the daily --> gives confidence.

Red flag: no real volume yet, which is slowly building up.

Fundamental wise it's a big month for Komodo with ICO's and an airdrop. And I'm expecting a lot from this project, probably one of the few platforms being a real concurrent for Ethereum .

Conclusion: we're in a bargain buy area for Komodo. Expecting a little sideways pattern for the coming days awaiting what Bitcoin wants to do. When BTC breaks the $7.300 downtrend zone on the logtrend scale I'm expecting that this one will make a significant upwards movement just like we've seen earlier.
Thanks Michael, what's your idea at this moment? We are still in the buyzone, but only barely. We seem to be closing below May 19th?
Still LONG?
Phản hồi
Great analysis mate!
+1 Phản hồi
I like your chart,and I have followed you. I hope you can Follow Me at the same time.
+1 Phản hồi
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