After my today’s article with short trade on Bitcoin the entire crypto market has started it’s dump and we can divide our short trades between different assets. Today I found the short setup on the KAVA.
On the 4h chart KAVAUSDT chart we can see that the price is going to show us the significant correction. The market now have the greed state which is unusual for the bull market start, that’s why the correction will continue in my opinion. KAVA has broken it’s key fractal level at $0.99. We can try to open short now or on retest of this level with the stop loss just above the previous up fractal at $1.05. If the price break this level it would be the nice long entry point.
Let’s notice that the down fractal was broken below the red Alligator line, therefore this signal is valid. The potential target for KAVA is $0.83 at the Fibonacci golden pocket. If you believe in the bull market you can buy KAVA on spot there.
Best regards, Ivan