Since the massive drop earlier this month, KCS has been trading in an uptrend. Luckily enough, the price is still making higher lows, indicating a strong trend. However, there might be some bearish price action coming our way.
Bullish case: the price reverses from the current support and stays in the pattern. Best case scenario would be a bullish break out in the next week or so.
Bearish case: the current support fails and KCS will fall. Potential target would be $20. Since the ascending wedge occurs during a bearish longer-term trend, the bearish case would be the most likely scenario. However, this is crypto and everything depends on BTC.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.