KCS/BTC - Resistance hit, time for some cooldown. 🤔
KCS on the Bitcoin pair has hit the key resistance at 5.8k satoshi.
Now, the price is reversing and if we are to look at the USD pair (see idea below) it seems the bullish momentum may have to take a pause.
For this reason, a retest of the 5k satoshi support line may be in order before KCS can hope to break the key resistance here.
The indicators on the daily timeframe are also curving back down and may signal a local top.
Bias is short on this price action, best to be on guard here and keep a close eye on the support.
Like and follow if you like my idea!
Now, the price is reversing and if we are to look at the USD pair (see idea below) it seems the bullish momentum may have to take a pause.
For this reason, a retest of the 5k satoshi support line may be in order before KCS can hope to break the key resistance here.
The indicators on the daily timeframe are also curving back down and may signal a local top.
Bias is short on this price action, best to be on guard here and keep a close eye on the support.
Like and follow if you like my idea!
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