KCSUSDT July's Channel Up is still holding
The KuCoin token (KCSUSDT) has been trading within a Channel Up pattern since the July 03 Low. This analysis is on the 4H time-frame where the price has turned the 4H MA200 (orange trend-line) into a Support, trading around the 4H MA50 (blue trend-line). It may have broken also above the 1D MA50 (yellow trend-line) but we can't claim this as bullish yet as the very same pattern was last formed on the late May sequence which was a top pattern.
The confirmation for its break downwards came when the 1D MACD formed a Bearish Cross. Pay close attention as the MACD is again close to forming that. If the price breaks below the 4H MA200 again, it is a sell signal towards the July low. Until then, the short-term trend remains bullish within the strict structure of the Channel Up, targeting the Higher Highs (top) trend-line.
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The confirmation for its break downwards came when the 1D MACD formed a Bearish Cross. Pay close attention as the MACD is again close to forming that. If the price breaks below the 4H MA200 again, it is a sell signal towards the July low. Until then, the short-term trend remains bullish within the strict structure of the Channel Up, targeting the Higher Highs (top) trend-line.
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