KASUSDT likely to head to daily support 0.034-0.035

Jul 23, 2023

The price bounce from hourly support HS1 and hit the hourly resistance HR1. The price is likely to move further down from here towards daily resistance DS1. This makes a short trade favorable here. The target of this short trade should be the daily support DS1 around 0.034-0.035. There is another large time frame idea of the price heading towards weekly support but thats not presented here as we would like to do multiple trades here and therefore, trading mid time frame levels.

Jul 23, 2023

Note

The price started dropping from our entry for the short trade and came back to the hourly support which provided support again. This support was a place to book some profit. The price bounced from there to the hourly resistance 4HR1 again and provided opportunity for another entry as well for adding the size. The price has been reject from the top of the hourly resistance zone HR1 and moving down. I expect some bounce around 0.037 level and is a good place to book some profit on the way.

Jul 25, 2023

Trade closed: target reached

The price has reached the target and even dipped further below briefly. This concludes this trade. As mentioned previously, there is a chance that the price will head towards weekly support. That was the original idea, however, we would like to play on mid time frame. That would also allow some long trades in between. Anyways, lets see what new setup on this one we can take. I will post that in a separate post.