KAI Quick Update
Hi Guys,
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I have provided a projection channel. As you can see the lower section of the projection channel utilises the bottom lines since the genesis of the coin. The integrity of this is in tact. This lower channel line targets over 5 cents. The upper channel line puts us at around 16 cents. Once we break out, a conservative call is that we target these key areas on the next set of five Elliot Waves (EW).
You can also see that we are still doing ok with the MA100.
As you may remember from my last chart, we have already run the first five waves of EW. Therefore, we are currently in the correction mode. Corrections can run deep and this is no exception. However, you can see I have a bull signal now. Whilst this can easily be defeated, it is more probably that we will see a shift in momentum and upside movement.
On the 4 hour chart the MACD has crossed and the RSI is way down at the bottom showing us we are over sold. Both of these indicators are positive. You can also see that volume is slowly increasing. Another positive sign.
This is a great zone to accumulate. Whilst the sellers are getting exhausted, the bulls will take to centre stage and get ready for rampage.
As always, stay safe in these crazy times.
Love and light,
Crypto Nut
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