✴️ Kaspa Goes Up Or Down? When To Buy & My Trading Methodology
Updated
Several questions in the title, let's go step by step but first....
How are you doing my amazing supporter?
It is my pleasure to be here for you today.
➖ Will Kaspa grow from this point forward or will it go down?
There is a famous saying, I think from one of Livermore or Graham's books, where after doing their research and setting their positions people would ask, "is the price going up," "when is it going up?," the answer would always invariably be, "I don't know and I don't care."
➖ Is Kaspa going up?
We look at charts for trading purposes.
We look at the charts with the goal of finding setups that can produce winning trades for those who read. The main and most important point for us is the risk, the chart setup must be low risk.
For low risk we focus on low prices, trading low/near support.
Since we are technical analysts first, we don't know about fundamentals and there aren't that many valuable fundamentals when most of the Cryptocurrency companies are just smoke and screens. Most of these "companies" are just promises and it is too early in this game. So it is not only wise to focus on technical analysis at this point in time it might be the only approach that works because there are no earnings reports, no P/E ratio, no dividends, no share holders, no reporting, no taxes, no insiders buying reports, etc. This is just not the world in which we live anymore... I mean, it exist, it is just not for us; the new generation.
We look at codes, numbers, data and our gut... Financial hieroglyphs, or just the chart.
So Kaspa (KASUSDT) grew by 1,200%, more or less, in a period of about 6 months. I am not trying to be exact, this is what I see on the chart.
And so it can keep on growing, it can keep on going and going and going to the moon, to Jupiter, Pluto and beyond the stars but that is not my point. My point is this, if this is a pair that I like and follow it for six months and in the end I see a 50% retrace from a pick, an 80% correction but the action stopped; The price is low, near support... Then I like it for a rise. I like it for a call. I like to share it to buy because growth potential will be very high, the risk really low.
Say that a pair of my choosing which has been going down for two years keeps on going down. If this happens you surely know that the bottom is close because it already dropped for two years straight. So you might have to wait a few days, a few weeks, a month or two at the worst and then the doors are open for growth.
After a pair, a company, a stock, a Cryptocurrency grows by 1,200%... I don't know, I don't have a crystal ball but, if it starts dropping it can drop for just a few days just as it can be the beginning of a six months long wait. Do you get my point?
Don't worry... I am still here with you.
➖ Sell high and buy low.
I will expand in another trade idea.
✔️ Make sure to boost if you would like to read part two.
✔️ Feel free to follow if you enjoy the content.
Thanks a lot for your support.
Namaste.
How are you doing my amazing supporter?
It is my pleasure to be here for you today.
➖ Will Kaspa grow from this point forward or will it go down?
There is a famous saying, I think from one of Livermore or Graham's books, where after doing their research and setting their positions people would ask, "is the price going up," "when is it going up?," the answer would always invariably be, "I don't know and I don't care."
➖ Is Kaspa going up?
We look at charts for trading purposes.
We look at the charts with the goal of finding setups that can produce winning trades for those who read. The main and most important point for us is the risk, the chart setup must be low risk.
For low risk we focus on low prices, trading low/near support.
Since we are technical analysts first, we don't know about fundamentals and there aren't that many valuable fundamentals when most of the Cryptocurrency companies are just smoke and screens. Most of these "companies" are just promises and it is too early in this game. So it is not only wise to focus on technical analysis at this point in time it might be the only approach that works because there are no earnings reports, no P/E ratio, no dividends, no share holders, no reporting, no taxes, no insiders buying reports, etc. This is just not the world in which we live anymore... I mean, it exist, it is just not for us; the new generation.
We look at codes, numbers, data and our gut... Financial hieroglyphs, or just the chart.
So Kaspa (KASUSDT) grew by 1,200%, more or less, in a period of about 6 months. I am not trying to be exact, this is what I see on the chart.
And so it can keep on growing, it can keep on going and going and going to the moon, to Jupiter, Pluto and beyond the stars but that is not my point. My point is this, if this is a pair that I like and follow it for six months and in the end I see a 50% retrace from a pick, an 80% correction but the action stopped; The price is low, near support... Then I like it for a rise. I like it for a call. I like to share it to buy because growth potential will be very high, the risk really low.
Say that a pair of my choosing which has been going down for two years keeps on going down. If this happens you surely know that the bottom is close because it already dropped for two years straight. So you might have to wait a few days, a few weeks, a month or two at the worst and then the doors are open for growth.
After a pair, a company, a stock, a Cryptocurrency grows by 1,200%... I don't know, I don't have a crystal ball but, if it starts dropping it can drop for just a few days just as it can be the beginning of a six months long wait. Do you get my point?
Don't worry... I am still here with you.
➖ Sell high and buy low.
I will expand in another trade idea.
✔️ Make sure to boost if you would like to read part two.
✔️ Feel free to follow if you enjoy the content.
Thanks a lot for your support.
Namaste.
Note
Please, allow me to give you a real world example, we will use FETUSDT.We start with the chart:
FETUSDT produced a bullish wave of 1,054% (Nov. 2022 - Feb. 2023).
If one loses patience, one can bet long, go long or what not right after the top but, after a strong bullish wave a correction typically follows.
For FETUSDT, after the bullish wave peaked a corrective phase developed lasting 190 days (6 months+) from top to peak with a total drop of 73%. Support is found at 0.786 Fib. retracement for the bullish wave in question. (This is mapped on the chart for KASUSDT)
After the correction low it takes another 2 months (64 days) before the next bullish wave fully develops.
The whole process from the first peak to the next impulse took 254 days.
Sometimes we are prepared to wait for a few weeks or maybe even "adapt" and wait 3-4 months but the wait can be much longer... This is the situation with Kaspa and many other Altcoins.
They don't necessarily have to go down, but it is a gamble that I don't take, I have a system that I use and follow to produce high success with my traes.
Back to square one...
Sell high, buy low.
Namaste.
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