KAVAUSDT is inside the bullflag

6 févr. 2023

KAVA recently bounced from its monthly support at the 0.66 dollar level, which is indicated by a purple line.
The market is currently forming a bull flag pattern below the daily resistance.
Traders are eagerly anticipating a breakout from this pattern with high volume, in accordance with Plancton's Rules.
This could signal further upward movement for the asset.

–––––
Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  
• ⚫️ Black structure -> <= 1h structure.
  

Follow the Shrimp 🦐

7 févr. 2023

Note

A bull flag is a technical chart pattern that is formed when an asset's price moves higher after a substantial uptrend and then consolidates in a narrow range before continuing its upward trend. The pattern resembles a flag on a pole and is considered a bullish continuation pattern, as it suggests that the price is likely to continue moving higher. In a bull flag pattern, the "flag" represents a period of consolidation or hesitation in the market, while the "pole" represents the prior strong upward move. Traders and investors use bull flags to identify potential buying opportunities and to set profit targets and stop-loss orders. It is important to note that not all bull flag patterns result in a continuation of the trend, and that a break below the "flag" support could indicate a potential trend reversal.

8 févr. 2023

Note

The price is testing the resistance right now!