The last few weeks have been extremely volatile.
A lot of cryptos have broken down and lost bullish market structure on the micro time frames.
When in doubt zoom out, kava still looks great on the macro time frames and has just formed its HL.
Bullish market structure is still intact on the macro HH and HL.
Bitcoin is still highly volatile and until $42500 area...
Kava looks ready to make a run.
Inverse head and shoulder forming on the daily with a breakout target of around $7.
Only resistance is the $5.30 area.
I have been a big fan of kava in recent months.
Bitcoin has to stay on course, no sudden drops for this move to play out.
Kava looks great, it has just closed the 4hr above a key resistance line at $2,57
We haven't seen a close above this line since September 2020.
It has been ranging through the asending channel since early January.
The next line of resistance isnatcthe $3.08.