The Trust Layer for Market Analysts

The analysis of KASUSDT on a weekly chart suggests the current move to the upside is difficult to count from an Elliott Wave perspective. Two potential counts are presented: one labeling the move since 2022 as a three-wave move up into the 2024 high (ABC structure in wave A), with a B wave pullback, and a five-wave structure up in wave C of A. Alternatively, it's labeled as a diagonal pattern, with an ABC in wave 3, suggesting wave 4 is in progress with a potential for another high. The speaker mentions a case for higher prices from the April low was destroyed by a flash crash on Friday, and the price has hit the 38.2% retracement. The speaker discusses reaching support and the possibility of another low. Given the five-wave decline from the high, a bullish breakout becomes less probable, increasing the possibility of a corrective bounce. A break above 0.075 is needed to confirm an uptrend. Resistances for a B wave are around 0.082, 0.1, 0.11, and 0.152.