KNCPERP trade ideas
KNC is pushing hard to 1.65$Once KNC is able to close above 1.5$, there is a clear way up to 1.9$. First target is 1.65$
Moment of truth All points converging on these next few minutes/hours as the descending wedge breakout/upward triangle consolidation and month long resistance line all meet at the pinnacle of the consolidation triangle.
If this breaks up, first leg target is $1.67 if this breaks down it is time to be concerned
Breakout of wedge startedRepeating pattern, likely the last of the repeating pattern once it reaches the 5th hit on the ascending expanding wedge . Breakout from descending wedge ( bullish ) on chart as well as RSI descending wedge ( bullish )
Pattern is 51% more drawn out then the prior one which saw a 4 day run after breaking out of its wedge , if this continues the same pattern we will likely see a 6 day rise running to August 4th before it reaches it peak wick and with bitcoin turning into what looks like a consolidating symmetrical triangle or flag pattern we may have just enough time to complete the pattern before another potential bitcoin up/down break. If we keep to the same upward trend line the peak of the target wick will be $2.80-$2.90 and likely only for a short few seconds/minutes
If you are looking for swing trades after this pattern, keep your eye on XTC (TEZOS) which is forming a multi month inverse head and shoulders (it is currently at what would be the bottom of the right shoulder) if that pattern stays drawn out long enough before rising up to make the top of the shoulder it may be a very profitable swing trade to consider. Target for XTZ would be around $4.10
KNC breakout on its wayNearly identical charts from the last run, the only difference is that we had the Binance US listing news which gave KNC a premature boom boosting it to 1.92 before it was completing its pattern. It's since reset and reformed the falling wedge and is about to break out and start its next phase. Likely aiming for $2.50 -$3.00 range on this run up.
RSI chart is also nearly identical for both runs and has bounced off the bottom just as last time marking the beginning of the next leg. If it repeats for a third time we are in for some fun ;)
Watch to see if we can break shorterm resistance KNC still has a relative low marketcap with a strong community and good sediment rating. I will be keeping an eye on it as I believe it is a good trade if we start to break out of the short-term downtrend we are seeing the last few days.
Long for KNCUSDCatching the reversal, might help catching it lower. What effect would BTC have once momentum dies off.
KNC.usd near Key Support Levels: Bubble Popped? Healthy Retrace?As you know, most Alts have been deflating while the King blasts upward.
KNC is now approaching what should the first of two STRONG support zones.
Need to see at least a strong bounce soon, and it might happen at these zones.
$ 1.3291 - 1.3437 is the IDEAL bounce level, preserving strong uptrend structure.
$ 1.0823 - 1.0970 is pretty much Bull's Last Stand, losing it would be catastrophic.
Up above, $1.83/85 has become strong resistance even before $2 round figure.
Other Update about KNCUSD, Other Bullish Wedge DetectedHello my friends, as my last idea about KNCUSD from few days ago, the KNC's chart has improved to other bullish wedge. Let's have check if it goes to breakout up
KNC/USD: Looking weak. In short words, Kyber Network seems to be showing signs of weakness. We are forming a similar pattern to that of LINK/USD a few days ago (descending triangle) go check out my other post on LINK/USD. This time around we have closed several 4hr candles below the 10EMA, 21 EMA and 55 EMA and looks like we’re enroute to touching the 200 EMA. This move coincides with the bottom of the descending parallel channel that Kyber has been on since July 18. Now sitting like dead weight right on the support line (@/around $1.60) and with the RSI going down and stoch crossing down again down in the bearish control zone, ALL WHILE ETH is pumping = money flowing into the bigger dog, we might just see Kyber revisit the $1.43 – $1.48 level in the coming hours possibly days.
Disclaimer: We’re all wrong from time to time.
Breakout with contination and formation of LONG TERM cup/handleSecond upward triangle formation. First one broke out at the 61% full mark this one looks like it may be breaking out around the same 60 percentile range.
Long term may be looking at this break out to $2.50 range and a final triangle consolidation breaking out to $3.50 range before a multi month sell off and possible retracement completing a VERY long term cup and handle pattern for early next year which would bring this upward to its all time high of $6 in the first or second quarter of 2021.
Too early to call this but something to keep your eye on, may be the most perfect looking cup formation that's ever been made ;)
KNC - looks like another leg upGut feeling we make a good move up today/tomorrow
not trading advice
thoughts/comments?
TG
4hr Chart, oversold on the 15min with bullish divergenceWith the bullish divergence and oversold market on the 15min I see us reclaiming the triangle and heading towards $1.85 before a small pull back and new ATH.
It has broken outLet's see where this goes, to be honest this was my first time spotting the consolidation.
KNC - next move?Currently in a very similar pattern we had at the beginning of June. If we can close above $1.66 by Thursday (3-day), I think we shoot up... a close below, we may see a good drop down.
Stay safe and keep an eye on the next two days, could be very telling of what's to come.
Stay safe.
Thoughts/comments?
TG
Am I wrong? Rising wedge? Slightly expanding?I am brand new, learned the hard way, now I am hopefully pointed in the right direction. IF my analysis is correct I think as long as the lower trendline is maintained, we are in a very bullish continuation. If it breaks? Thats where I don't know... seems very bad if it does break lower trendline. Thanks for any feedback or jokes about a noob.
