A massive opportunity for $KUJI investors may be coming soon.
And my eyes are glued to the charts. Here's what I'm watching, and how I plan to take advantage.
But Wait! Don't smash that "Buy" button quite yet.
The time will come. But these charts tell a story worth listening to
Kujira has broken its 0.786 Fibonacci level.
Fibo-what level?
Anyone can draw support and resistance levels on a chart: Hindsight is 20:20.
But Fibonaccis are special because they help us predict future support and resistance levels for altcoins. (Horizontal lines on the chart)
Examining the chart, we see the KUJI demolished its 0.786 Fibonacci level for five days in a row.
This is a significant break and means we may see a retest of its next level at $3.23.
Does this mean KUJI will slide this far?
Not necessarily.
But other indicators need to change before I'm ready to smash the "Buy" button again...
Can KUJI regain the 21 Day EMA?
Two bearish indicators involving EMA have just occurred.
1) KUJI's price fell behind the 8, 13, and 21-day EMAs (orange, green, purple).
2) All three EMAs lines just crossed.
But why are these bearish indicators?
Think of EMA simply as the average price of KUJI over a time period.
Basically, these indicators mean the current price of KUJI is falling behind the average price of KUJI.
But hope is certainly not lost. In fact, this could be an amazing opportunity for KUJI investors.
How I plan to take advantage:
1) I will watch to see if KUJI can regain its 21-day EMA.
• If it does, I will wait a few days to see if it holds before buying.
2) If KUJI cannot, I will place a limit order to catch KUJI between $3.23 and $3. (Between its next Fibonacci and historical support)
Don't get this mixed up. This is not a bearish $KUJI post.
In fact, I couldn't be more confident after the announcements just released by Kujira:
• FOREX trading perps platform • 3 Click Onboarding through Sonar wallet and Kado Money
• Native asset transfers from Polkadot and Near coming soon. But when the markets get choppy... This is when I have historically found the best opportunities.
I hope you find this post helpful. Please let me know if you'd like more technical analysis in the future.
Love Deebs 🪶
Thanks for this! I would definitely love some more technical analysis in the future!
Awesome job, sounds good to me as well!