$XCN gem of the century?I honestly believe this thing can easily get back to the ATH. The RSX show that' it's at the very bottom, with so much more room to run!! Good luck!!
Xcnusdtsignals
XCNlooks like it can catch up quick here, most altcions popping off and already breaking above the marco down trend line. Also very bloody wrecked.
XCNUSDT Strong short-term buy signalChain (XCNUSDT) has been a regular on our portfolio lately as we have been accurately following a specific Bearish Megaphone pattern since late September:
Right now the 1D RSI is approaching again its recurring Lower Highs trend-line, a break above which will be an instant buy signal, targeting the 1D MA50 (blue trend-line) again, as we our previous signals.
On the other hand, a break below the 0.03500 Support (Fibonacci 0.0), will be a sell signal, targeting the bottom (Lower Lows trend-line) of the Megaphone and the -0.236 Fib. On the bull side, a break above the 1D MA100 (green trend-line), will be the major buy signal that the market needs, as it has been untouched since July 11 2022, targeting the 0.5 and 0.618 Fibs.
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XCNUSDT Rise short-term but still limited unless this breaks.Chain (XCNUSDT) followed the pattern we suggested 40 days ago and after a short rise it dropped to the -0.236 Fibonacci extension level:
As you see, today is having a +22% rise. The long-term pattern is a Bearish Megaphone on this 1D time-frame. This short-term rebound is aiming at the 1D MA50 (blue trend-line), between which and the July 11 Lower Highs trend-line, all previous three Lower Highs were formed. This is our target but in order to engage in further buying, we need to see a break above the 1D MA100 (green trend-line), which is unbroken since July 11.
In that case, our target would be the 1D MA200 (orange trend-line), which potentially by that time should be near the 0.618 Fibonacci retracement level. In the event of a strong rejection on the Lower Highs trend-line such as on October 20, September 22 and August 21, we will treat it as a sell opportunity and target the 0.04765 Low and then the -0.236 Fibonacci extension again.
P.S. See how the aggressive rises take place when the 1D RSI breaks above its Lower Highs trend-line and the 1D MACD makes a Bullish Cross.
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XCNUSDT Falling Wedge about to break. How to trade it.*** ***
For this particular analysis on Chain we are using the XCNUSDT symbol on the KuCoin exchange.
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The idea is on the 1D time-frame where XCN has been trading within a Falling Wedge pattern since the August 04 Low. As you see the pattern has reached a level where it is too narrow at eventually will break out. In the event of an upwards break-out, the target should be the 1D MA50 (blue trend-line) and the 0.382 Fibonacci retracement level. Above the 1D MA100 (green trend-line) and the 0.5 Fib, we can consider a buy extension.
In the event of a break-out downwards, the target could be the -0.236 Fibonacci extension level. Note that the 1D RSI has been on Higher Lows since September 08 while the candle action was on Lower Lows, showcasing a bullish divergence. That can potentially mean that we have to give the upside a slight edge. The ideal confirmation may be once the 1D MACD forms a Bullish Cross.
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