Technical analysis by TradeYourLogic about Symbol KDA: Buy recommendation (2/8/2023)

Not a financial advice, always perform your own research before buying anythingMy new chart and new vision for KADENA, at least for nowI am waiting to see how 3D candle gets closed first, as for now it gets closed with BULLISH engulfing which will which induce our bullish continuationUnfortunately, we did not end up closing with BULLISH engulfing, I will be waiting for a weekly candle closureShort update, daily candle gets closed with the bullish engulfing, hence we can expect some upside movement, I am also waiting for the weekly candle, as for now the whole market is growing, therefore KDA can touch 1.5-1.6$ level soonI am expecting BTC to reach 27-28k level and after it will have a correctionAs usual, not a financial advice, please do your own researchStill waiting for 1W candle to get closed, if we manage to get closed above 1.35$ or somewhere around this area, weekly candle will engulf previous two weekly correction candles which will be an extremely bullish sign and we could await for further upcoming movements3D chart, we are currently within the ascending triangle pattern, as long as we stay above our uptrend line(1,08$) - we are fine and we can attend our 100MA(1,4$), in case if we manage to get closed beneath 1,08$, then we could also visit 1$ and 0.9$ accordinglyWe have broken our local support, on 1D timeframe potential Head and Shoulders pattern, if we break the neck(support at 1$), our potential target based on TA will be around 0.7$As for now everything depends on BTCPotential Inverse Head and Shoulders on BTC 3D timeframe with the target around 31-32k, RSI is in oversold areaInvalidation if BTC gets closed under 19kUSDC.D and USDT.D, RSI is in overbought areaHope you have bought the dipShort update:I am still waiting for the Weekly candle gets closed, if BTC does not get dropped, then we will see an uptrend in KDA to our local resistance areaAlso mining difficult is increasing due to the KA3 miners release which eventually should decrease daily KDA producing, which might cause Demand > Supply, which can lead to the price growthRecently daily produce was around 60 000 of KDA and as for now it has decreased to around 45 000 KDA(It is not 100% yet, still gathering information for my inner statistics)Please, disregard previous information regarding daily produce decrease, I was wrongAfter some rally on BTC, I would expect a correction at around 25k area and the same time BTC.D is making some BEARISH divergences, which means ALTs can potentially start growingAs for KDA, if we lose 0.9$ area we will start making lower lows, which means continuation of BEARISH trend, nevertheless I am holding it for long term just obserwing how the project gets developedTo be honest, KDA under 1$ is a gift but none of this is a financial adviceShort update, nothing new has happened, just keep holdingAs for now we can observe ALTs pumping after BTC growing and USDT.D moving downward, I expect it to continue doing that but IMHO BTC will not genuinely break 32k areaAs for KDA, we need to close above 1.10$ on a daily timeframe in order to consider going to 1.40$Patience always pays off