Updated
KNC/ETH: Accumulation opportunity
As KNC continues in freefall after breaking through its first support, it won't be long until it reaches the strong lower support. As indicated historically using a combination of the Stochastic RSI and BB normalized RSI, when both indicators agree, a rally quickly follows right after. This being the case once more, and now displaying a descending triangle, a breakout is likely to happen soon. Buying right above the support is ideal, assuming it holds after being tested. Trade cautiously friends!
Note
Interestingly, KNC inches closer to the tip of the triangle without any signs of breaking out... yet. We must be patient.Trade active
Now is a good time to buy, support holding fast.Note
We've gone down under, but hope remains! I'm in for the long run.
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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.
Disclaimer
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.