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KNCBTC anothe bullish reversal pattern is formedHi friends hope you are doing well and welcome to the new update on Kyber Network. The KNC has surged more than 930%. Therefore in today’s post we will try to have complete analysis how how the KNC surged and what the price action can do next. A big butterfly move: Last year in September 2019 I posted in article on tradingview. Where I revlealed that the price action of Kyber Network has completed the formation of bullish Butterfly and it can make up to 512% big move. And finally as per prediction the price action took a powerful bullish divergence and produced more than my Expectations and that is 930% very big move. A descending triangle and bullish signals: There was another bullish signal that the price action of KNC gave before taking this powerful bullish divergence. The price action of Kyber Network was moving in a descending triangle and in May 2020 it was moving in the area where the trader’s interest was very low as per volume profile indicator. I have also placed the moon phases indicator on this chart and you can see that the new dark moon was appeared exact at the support of this triangle and the new full moon was above the resistance of the triangle. That was a clear indication that it will be difficult for the priceline to break down the support and it will breakout the resistance. And finally the price action followed the signals and broke out the resistance of this triangle. Bullish reversal signal after correction rally: After first bullish move in the month of March 2020 the price action started a correction rally. During this correction rally the price action completed an other bullish reversal pattern on the weekly chart that was another clear signal that the price action will not stop here and soon it will make another powerful bullish move. And that pattern was a Cup & handle. The resistance of the Cup was at $10,000 and the handle of the cup retreced upto 0.382 Fibonacci retracement level and finally broke out the resistance of this cup. Support and resistance levels: Now if we switch to the 4 day chart then we can observe four major resistance and support levels. 0.00006500 sats, 0.00010000 sats, 0.00014000 sats and 0.00027500 sats. The price action formed a double bottom on 0.00006500 and broke out the next resistance of 0.00010000 sats and moved up to 0.00014000 sats resistance level. Now the price action is facing hard resistance at this level. If the priceline of Kyber network will be moved down then it can retest the previous resistance as support at 0.00010000 sats. The 0.00014000 sats is very important resistance for the priceline as if it will be broken out then there is no significant resistance from this level up to the next resistance level of 0.00027500. Therefore this 96% gap will be covered within a no period of time after breaking out the 0.00014000 sats resistance. A bullish reversal harmonic pattern is formed: While the price action is stuck at 0.00014000 sats resistance level it has formed a bullish Shark pattern on a very small time period 4 hour chart and entered in the potential reversal zone of this pattern. Even though this is not as that much big pattern that can give a powerful push to the price action to break out the next resistance however this bullish reversal pattern can be e helpful. Conclusion: If the next resistance level will be broken out then we can again see another very powerful bullish move. But if it will not broken out then the price action may start a bearish rally up to the previous support at 0.00010000 sats.
Editors' picks
Long
by moon333
5
KNCBTC formed bullish Shark | A good long opportunityThe Priceline of World's 85th ranked out of more than 2300 cryptocurrencies Kyber Network (KNC) has formed bullish Shark pattern and entered in potential reversal zone and ready for bullish divergence at any time. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Let’s have a look on the dimensions of KNC price action's moves: After inertial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark and now we are entered in potential reversal zone of this bullish Shark pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: 0.00002982 to 0.00002923 sats Sell between: 0.00003061 to 0.00003208 sats So this trade is a good long opportunity for day traders. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
Long
by moon333
KNCBTC formed bullish butterfly | Upto 512% expected from herePriceline of KyberNetwork / Bitcoin cryptocurrency has formed a bullish Butterfly pattern and almost entered in potential reversal zone. RSI already visited oversold MACD is strong bullish. Stochastic has given bull cross. Volume profile of pattern showing less interest of traders. I have defined targets using Fibonacci sequence: Buy between: 0.00001375 to 0.00000001 (but going more down is very difficult for price action as all indicators are strong bullish) Sell between: 0.00003993 to 0.00008215 Regards, Atif Akbar (moon333)
Long
by moon333
KNCUSD a 2340% under valued asset can make a new high upto 2617%On two weeks chart after a long time at last the 25SMA has crossed down the priceline to lift the price up very soon insha Allah. Therefore I have defined the buying zone between 0.886 to 1.13 fibonacci. The bearish shark with all required dimensions from X to C legs is formed soon when the 25MA will lift the pirce action up the formation of C to D leg will be started. It will be a massive move. The sell targets are: Secure sell targets: $1.43453275 to $2.83247482 Aggressive sell targets: $6.74000000 to $5.45500000 Regards, Atif Akbar (moon333)
BINANCE:KNCUSDLong
by moon333
2
The KyberNetwork can take a big move upto 5400%The KyberNetwork is moving within a pennant and since dec 2017 the support of the pennant cannot be broken even after 6 hits on the support. At the moment the price action is again hitting the support of the pennant but this time it is also at 1.13 fibonacci of bearish shark pattern and due to the strong support of pattern the price action will not move more than this 1.13 fibonacci therefore I am taking the buying zone from 0.886 to 1.13 fibonacci rather than 1.13 to 1.618 fibonacci. We have also pivot 1st support just beneath the pennant's support. The formation of C to D leg will be started soon insha Allah. The targets are: Buy between: 0.00001410 to 0.00010653 Sell targets: For secure targets sell between: 0.00027611 to 0.00055322 For aggressive targets sell between: 0.00062750 to 0.00078300 Regards, Atif Akbar (moon333)
Long
by moon333
KNCUSD - MORE PROFIT FROM CGBuy Price: Green Zone SL: Below Red Zone Profit: Blue Zones Invest Suggestion: 50 Percent Profit Expectations: 400 Percent All technicall indicators of KNC are turning good( like my call of OAX), soon the EMA 13 will cross the others EMA's. Volume is good to make a break out too! Besides, we have great news about crypto comming( search them on google , i can't post links here )! The key levels for this trade are the yellow circles and the arrows, keep watching it, when KNC hit that zone, it can retrace! See me previous analysis and how profitable the are! Sell when you get some profit, according the way you trade. Keep following us and please like this idea. Any doubts? Send in the comments or in our telegram or Inbox here. Thanks for visiting.
BINANCE:KNCUSDLong
by CGCryptoTrader
1
KNC Trading AdviceBuy Price: Yellow Line TP: Green Lines Moon: White Line Support: Blue Line SL: Red Line Invest Suggestion: 5-10 Percent Profit Expectations: 5, 10 or >20 Percent Just hold and watch. All targets will be reached within 24 to 72 hours as my prediction. Moon can take >15 days. But it's recommended to hold it for 6-7 days if any target not reached. Sell when you got some profit. I am sure, you will be get nice profit. Good Luck! Looks Good? Leave a like, share and tell me in comments if my trading advices are working for you. Show your love. Please ask me for any coin address to make a donation. Your donation will encourage me to keep up this service. Thanks for visiting.
Long
by firdosi
1