KCS/USD - Massive Bullish Divergence. Can KuCoin PUMP? 🚀
With KuCoin making another local low, the three-day timeframe is now giving a massive bullish divergence on the RSI.
This is significant and it may take some time to materialize. As long as the price manages to hold at this support level then a relief rally becomes quite likely in the near term.
The market appears to have found a local bottom around these levels and with a bit of buy volume, it can reverse this downtrend, at least in the next few weeks.
On the daily timeframe, the chart is bullish but lacks sufficient volume right now.
The bias is mildly bullish right here, but it is contingent on the support holding.
Time to be patient, but taking a long position on dips may be the better trade right now compared to shorting.
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This is significant and it may take some time to materialize. As long as the price manages to hold at this support level then a relief rally becomes quite likely in the near term.
The market appears to have found a local bottom around these levels and with a bit of buy volume, it can reverse this downtrend, at least in the next few weeks.
On the daily timeframe, the chart is bullish but lacks sufficient volume right now.
The bias is mildly bullish right here, but it is contingent on the support holding.
Time to be patient, but taking a long position on dips may be the better trade right now compared to shorting.
Like and follow if you liked this idea!
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