KCSUSDT broke below its Channel. Levels to consider.
The KuCoin token (KCSUSDT) broke today below the Channel Up pattern it has been trading in since the 2nd half of May. The obvious Support to look for now is the 4H MA200 (orange trend-line), with the next ones (14.930, 14.130 and 13.520), being the Higher Lows during the uptrend after the May 12 low. Every one of those Support levels can provide a rebound, so buying there with the SL just below them, constitutes a sound trade from a Risk/ Reward ratio perspective.
On the other hand a daily closing below 13.520, technically restores the long-term bearish trend. If you are looking for a confirmed buy, perhaps it would be best to wait for the 4H RSI to break above its upper Bollinger.
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On the other hand a daily closing below 13.520, technically restores the long-term bearish trend. If you are looking for a confirmed buy, perhaps it would be best to wait for the 4H RSI to break above its upper Bollinger.
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