Today I'm doing a quick update on my Komodo pick from a few days ago (linked).
explanation with specific parameters adjusted for crypto markets https://www.youtube.com/watch?v=vggTuFMJRXo
Chart patterns explained: https://www.babypips.com/forexpedia/category/chart-patterns
Komodo BarterDEX: https://komodoplatform.com/en/technology/barterdex
I updated it last night.
If we allow the 50 MA to complete the symmetrical triangle and count these diagonal lines as the major trend lines of the descending channel, plus the bearish cross of the 50 and 200 MA approaching, things are looking more bearish for KMD. There is also more price contraction here, with an inside bar forming on the daily and a flag on the 4H that is too neutral to call. I'll search for potential Elliott wave targets.
The fundamentals are still very strong, keep that in mind. This would be a better time to wait for confirmations and potentially scale in at lower prices.
- delay POW for added security
- komodo DEX - decentralized exchange *WE NEED THIS BADLY
- not easy to mine - difficulty it quite high, not something miners can easily mine & dump