Hello everyone, I hope you're doing alright this week. It's been a wild month so far, both traditional and crypto markets have really taken a beating. I personally find it exciting that we get to see such low price levels as the very structure of how our societies exchange value is shifting. This is my first attempt at posting a video, hopefully it works. I would definitely like to have a conversation, as this is all my opinion and we can learn from one another and I'll likely have just as many questions as you do :D
Today I'm doing a quick update on my Komodo pick from a few days ago (linked).
You can click the picture to be linked through, didn't know it would work like that xD Oh gosh I'll go ahead and repost it, though it is a few hours old ;)
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.
@RotiWokeman, mainly watching the chart, giant full flag... but project is interesting as well.
- 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
RotiWokeman
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@evolmk99, We really do need to move on to decentralized exchanges and atomic swaps. I certainly don't want to deal with centralized exchanges and rely so heavily on BTC and ETH for what we trade against.