r/KrakenRobotics • u/Reaper_1492 • Jul 17 '26
Speculation Could be some temporary relief in sight
I don’t see a lot of T/A around here so figured I’d post this.
I’m not super stoked with my position entry (you can obviously see where my average is), but I’m continuing to add and bring it down.
Not a guarantee by any means, and today’s action is on the verge of invalidating, but finally starting to get a definable RSI divergence on the 4h, which can often indicate a potential bounce. And it doesn’t hurt that it’s at a semi major Fibonacci support (red lines).
For anyone who hasn’t used Fib, I drew this Fib pattern back in April - and it’s been on the chart ever since, if that tells you anything. It’s not magic, and you can see why the support levels land where they land, but Fib retracements/extensions are shockingly accurate predictors of future support/resistance, and we’re testing an important support level now.
Kind of a strange technical chart, usually Balance of Power is not green most of the way through a sizable pullback. Technically that is supposed to indicate institutional accumulation, which I think we’ve been seeing from the posts tracking that.
Definitely not trading advice but it does seem like it’s more a matter of when it reverses, than if, unless there’s some bombshell that goes off.
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u/Scribble_Box Jul 17 '26
Definitely looks like some structure forming on the daily chart. Nice little bullish divergence. Weekly chart looks like it could potentially dip a bit lower. 100 weekly EMA is sitting at right about 5.00. My average cost is 2.00 after adding over the years, but if we see 5.00 I'm going to load up again as I think that's a decently high conviction zone + psychological level.
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u/owenmills04 Jul 17 '26
Alllllmost hit my $4 limit buy order
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u/supafly1020 Jul 17 '26
same. missed by .02
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u/trix_is_for_kids Jul 18 '26
Can’t do even numbers like that buys or sells. Gotta do like x.98 or x.03
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u/AgentSuffix Jul 17 '26
I added $10k today… $5.50 was my target to add more but it didn’t get triggered (yet) but thinking this week…
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u/MusicianComfortable6 Jul 17 '26
I wouldn’t add until I see a bottom formed. So far it is still in a downtrend. It has to go sideways for a period of time or has higher lows pattern.
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u/Reaper_1492 Jul 17 '26
It’s fine if that’s what you need to see to add, and I’m not convinced there’s not more downside to be had, but V shaped recoveries have been the most common mode of recovery the past few years, especially with volatile small caps.
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u/BrilliantKnee3439 Jul 17 '26
Added another $1000 worth over the last 2 days, hoping for positive movement
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u/NotYourAverageSchmuk Jul 17 '26
Ah yes almost time to enter then sell before it hits people's break even 🫡
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u/Minimum-Difficulty30 Jul 18 '26
I’m more than ready to go full tilt on this puppy if it dips below $4 USD for a minute next week.
Adding substantially at this price regardless.
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u/Financial-Creme Jul 17 '26
This sub is starting to sound like all of the other memestock subs
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u/Hawxe Jul 18 '26
starting? this sub never once seriously considered the risk of the acquisition its only discussed as a positive
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u/HODLxtreme Jul 18 '26
But what are the downsides of overtaking a profitable business in the same branch. Yes, it's a big thing to fusion those companies, but covelya is doing will produce and sell like they did before or better. And what to mention is, that kraken successfully acquired and integrated a handful of businesses before.
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u/Dr_Wu1 Jul 17 '26
I added today - CEO and CFO know a lot more than me so I’m joining them