KYBER (KNC) In a Nice Bull PennantIt is crypto though, so I wouldn't discount my yellow arrows, a fake drop out and then a pump. What's more if we break out of the top, Ill be watching closely for the exact opposite. Once out of the triangle i will set stop losses right below the top line of the triangle as far too often in this market, a fake pump is started off an obviously bullish signal, just to dump after confirmation.
KNCUSD trade ideas
Kyber Network Setup Looks Really GoodKyber looks close to bottom if not already been there. Been waiting for weeks for 200 SMA to Cross the 314 SMA. Looks very near. Little overhead resistance. Couple that with staking announcement any day now we might be looking for an rocket ship. Team looks good. Lot of players in the market but they standout for many reasons for big investors. Not saying it can overtake MAKER but I wouldn't be surprised. Add the fact stakers will be able to vote on number of coins burned thus increasing coin value makes it a no brainer long term. Please read white papers. Sit back and watch the fireworks.
kyber.network
Kyber Network in the Short Term Aside from the gruesome chop taking place in all the nooks and cranny of the financial world, some cryptocurrency has held its own.
I believe kyber is showing a strong base here in the USD pairing and in the short term I am looking for a target near the .54 price range.
KNC forming a bullflag.KNC seems to be bouncing up and down in this area and ignoring the rest of the market ( to a certain degree ). We are still on track to 4 dollars by April 30th. I see 2 possible scenarios play out.
Bullish scenario. We bounce off support again and break up and out of this bull flag following the parabolic line that I've drawn some time ago ( linked ).
Bearish scenario. We break the support and thus the parabolic line ( Green line, See the previous post ) This could happen if bitcoin doesn't manage to hold on and crashes into oblivion ( which would be extremely bad news ).
Note : Keep in mind that if we do bounce off the purple support line you will need to keep a close eye on it as there might be a small bounce before breaking bearish and falling through the support line so keep your stop loss in place.
A few things I'm worried about.
1 : the state of the traditional financial markets right now.
2 : the MacD on the daily chart is going to tick to the bearish side when we fall down to the purple support line again.
3 : Bitcoin is very close to its historic support line which means that if it breaks the markets will go full-on supper bear.
Trade carefully. Have a good day.
KNC.usd has a path to a Buck: Kyber network Hyper bull scenarioKNC is at a key "fork in the road" (pun intended).
One way leads to new ATH on coinbase and $1.00.
Other way leads to a Pump-n-Dump death march.
The bounce thus far resembles a nested pair of 12345's.
But it could also be an ABCDE correction before dropping.
The fib ratios however, strongly support the bull scenario.
$ 0.8034-8105 is the Decision zone and possible launch pad.
$ 0.7745-7821 is bull IN-validation, or at least a weak bull.
$ 0.7406-7475 must be held to keep any bull momentum.
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KNC.usd Bubble Popped or Loading for next Leg? KEY levels MappedFriends, please hit the LIKES to encourage these publications.
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Kyber Network Coin recently added to Coinbase.
Thus the spike which looks like so many others.
"One Spike Wonder"? or will make another push?
This coin has been around for quite some time.
Last big spike was after the addition to Binance.
Since then it just melted away, like so many alts.
Now it has gotten a boost from US retail market.
Will Coinbase population buy and hodl this coin?
Or will whales pump it then dump it as usual?
The numerous zones are needed for gauging strength.
Plus the amplitude of the spike caused many ripples.
Of interest is which zones react in which manner.
$ 0.8034 - 8093 is the Decision (neutral) zone .
Break and Retest could launch the next leg.
Currently looks like bears have control of it.
$ 0.7475 - 7539 bounce would be Ultra Strong bullish.
$ 0.6916 - 6962 is the Minimum Expected retrace level.
$ 0.6705 - 6710 looks Likely to be Hit, possible bottom.
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Kyber Network-KNCBTC-
Touch the 50MA and down to the current position.
You should check if you can be supported by the 0.00002632 point.
If you get support at 0.00002632, you are likely to climb to challenge 0.00004062.
Must be supported by the short-term uptrend line.
-KNCUSD-
Must support the 0.15392949 point.
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The whole flow looks fine.
KNC also made a lot of declines, so we have to keep creating waves to rise.
If a small wave keeps coming out, it will eventually rise.
Coins that have no small waves and no trading volume should be carefully traded.