A video uploaded on YouTube by CRYPTO BLOCKS discussed signs that show Kaspa’s price could be about to explode. The speaker acknowledges the recent market downturn and describes it as depressing. Despite the drawdown, the speaker shares optimistic views about the market’s potential rebound.
The crypto analyst examines the weekly chart of Total Two, noting the market’s structure from 2017 and comparing it to the current structure. They highlight a similarity in the candle patterns, suggesting a potential upward trend if the current structure mimics the past.
A similar analysis is conducted on Total Three (excluding Bitcoin and Ethereum), showing how current patterns align with past bullish trends. An ABC structure appears to be completing, indicating a possible upward movement.
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Bitcoin and General Market Sentiment
Crypto Blocks emphasizes the importance of Bitcoin breaking resistance levels to signal a broader market uptrend.
They mention bullish divergence on the daily RSI for Bitcoin, suggesting potential upward movement.
The video touches on gold as a risk-off asset, noting its current price levels and implications for the broader market. The speaker also references the Russell 2000 index, explaining its role in indicating overall market health.
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Kaspa Price Explosion
Kaspa ranks number 23 with $48 million in daily volume and a market cap just over $4 billion.
Despite being down 1.4% for the day, the speaker expects this to change due to market conditions.
The speaker discusses Kaspa’s price pattern, noting a significant bottom touch four times and the upper area twice, suggesting a solid support level.
Various timeframes (12-hour, 8-hour, 4-hour, daily, 3-day, 5-day) show different RSI conditions, with some indicating bullish signs.
The speaker provides a detailed technical analysis, highlighting potential pullback levels and future price targets. They mention a possible ABC pattern forming, with a target of around $0.185 in the short term.
If the broader market (especially Bitcoin) breaks out, Kaspa could potentially reach and surpass $1 during this bull run.
The crypto analyst expresses a strong belief in a market rebound and encourages viewers to stay optimistic. They reiterate their expectation of a significant market movement, especially for Kaspa, driven by broader market trends and technical indicators.
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