KNCBTC trade ideas
Exchanges got hacked again?! people loves DEX like Kyber NetworkNice risk reward trade technically, but this time I am going to throw you some backgrounds behind first.
Ever since 2013 the infamous hack, people are starting to realize that centralized exchanges are huge risk both for us and the whole cryptocurrency market.
We then experienced hack but fortunately that didn't drive them out of business, instead, they issued tokens and relieved.
And, here we are, as Forbes reported 'Crypto-Heist': Coincheck Hack Could Be The World's Biggest Ever Cryptocurrency Theft
bit.ly
534million worth of NEM gone in a matter of seconds.
Just earlier today, 10 Jan 2018, We have ANOTHER!!!!!
The wall street journal reports, Cryptocurrency Worth $170 Million Missing From Italian Exchange
on.wsj.com
170million worth of NANO this time.
ALL OF THE ABOVE will force people to look for DEX( decentralized exchanges), such as
#ico-neonexchange- * $OMG * $KNC * $BTS * BNT
PLUS, technically we have an ascending triangle shown on the chart of KNC right here.
I'm going to allocate 30% of my portfolio into this space.
***Disclaimer***
This is just a personal opinion, NOT financial advice.
Bullish on Bullish2-hour charts show a beautiful cup-and-handle beginning October of last year, and KNC broke upwards from the cup beautifully. One-hour charts show another bullish wedge within the 2-hour chart bullish wedge. Signs are good for a swing trade. I'll sell once it hits 47 and then buy back in after the dip.
Long KNC/BTCWith all the "blood" in crypto, KNC is still holding a bullish trend and is bouncing off the 50% retracement. 4HR RSI also turning positive (need to wait for closing of candle). This and the very solid fundamentals and news make this my favourite coin:
11th of Feb Mainet Pilot Launching
28th of Feb Wallet Launch
31st of March mainnet supporting trading between tokens and ETH
Its a very conservative target, this is a long hold coin for me.
Good luck