KCS trading volumes stabilized strongly.
The price is also in the 0.786 fib retracement area from the 2018 ATH.
If support holds and price continues to consolidate: We should see a next significant leg up towards $ 44.2 (wick)
Obviously with a breakout confirmed around $ 21 first and stabilization above $ 34.2.
Kucoin has all the fundamentals on its side to achieve this in this Q2:
- Listing of KCS in 5 major platforms with the possibility of holding KCS dividends on other platforms (arrives in Q2 and confirmed by the CEO)
- Release of version 1 of KCC (BSC equivalent of Binance) in this Q2
- and many other features for the following quarters that will most likely push Kucoin to follow the Binance success story
In any case, it is certainly still an opportunity to strengthen your spot or long positions (with stop loss of course).
Do not wait until you are in a vertical phase of the market to take a position ...
I wish you a great day :-)
#NotaFinancialAdvise
#DoYourOwnResearch
The price is also in the 0.786 fib retracement area from the 2018 ATH.
If support holds and price continues to consolidate: We should see a next significant leg up towards $ 44.2 (wick)
Obviously with a breakout confirmed around $ 21 first and stabilization above $ 34.2.
Kucoin has all the fundamentals on its side to achieve this in this Q2:
- Listing of KCS in 5 major platforms with the possibility of holding KCS dividends on other platforms (arrives in Q2 and confirmed by the CEO)
- Release of version 1 of KCC (BSC equivalent of Binance) in this Q2
- and many other features for the following quarters that will most likely push Kucoin to follow the Binance success story
In any case, it is certainly still an opportunity to strengthen your spot or long positions (with stop loss of course).
Do not wait until you are in a vertical phase of the market to take a position ...
I wish you a great day :-)
#NotaFinancialAdvise
#DoYourOwnResearch
Comment:
PS : Don’t forget to leave a like :-)
Comment:
KCS broke below the fib 0.786 zone on the 4 hour frame :
--> The 50 EMA on the 4 hour time base has to hold otherwise we could visit the next fib zone (0,618) around 12.8 - 13.3 $.
Stay tuned
--> The 50 EMA on the 4 hour time base has to hold otherwise we could visit the next fib zone (0,618) around 12.8 - 13.3 $.
Stay tuned
Comment:
50 EMA being tested, it can keep testing it for another 36-48 hours before a confirmation of a drop towards 13$ depending on how BTC reacts to his big rising wedge.
Play it safe whatever your trying to trade for the short term.
Play it safe whatever your trying to trade for the short term.
Comment:
KCS perfectly touched the upper line of the fib zone (0.618).
BTC is testing his support zone area around 61.4k. If it holds, we might see a correction upwards toward 15.4 $ (retest of 50EMA) for the short term.
BTC is testing his support zone area around 61.4k. If it holds, we might see a correction upwards toward 15.4 $ (retest of 50EMA) for the short term.
Comment:
After the big sell off just after the Polkadex ICO followed by the Turkish ban FUD, BTC and alts felt kind of hard (more for KCS cuz of his last big run).
Furthermore, the Doge’s event moved all the liquidities to his side for a PUMP&DUMP scheme party (overheated by short squeeze).
But KCS fundamentals still remains intact.
BTC is still waving in his rising wedge approaching the downside of the pattern with a potential rebounce to his upside’s channel (around 68-70k) .
If BTC holds in his rising wedge, we shouldn’t see any prices below the fib 0,382 level at 10.7$ (it would be the lowest if BTC tries to break below 58500$).
We can also add this detail to the equation :
The last run of KCS/USDT finished with a -47,3 % correction (from 6.95 to 3.50$).
So if we apply the same rule of thumb it matches with the lower part of the fib 0,382 zone (10,54$)
Regarding KCS/BTC, it bounced pretty hard around his 0,382 fib level.
At this stage, we would probably need some weeks (around 4 if we compare it to the last run) of consolidation before retesting ATH and exploring new high horizons.
The main important part is to check KCS/BTC and the weakening dominance of BTC marketcap that will probably be pushed down to at least 33% in the mid term thanks to the DeFi explosion.
In the mean time enjoy the time you have to design a well-crafted plan, because this bull market hasn’t even reached 30% of his capacity.
#NFA
#DYOR
Furthermore, the Doge’s event moved all the liquidities to his side for a PUMP&DUMP scheme party (overheated by short squeeze).
But KCS fundamentals still remains intact.
BTC is still waving in his rising wedge approaching the downside of the pattern with a potential rebounce to his upside’s channel (around 68-70k) .
If BTC holds in his rising wedge, we shouldn’t see any prices below the fib 0,382 level at 10.7$ (it would be the lowest if BTC tries to break below 58500$).
We can also add this detail to the equation :
The last run of KCS/USDT finished with a -47,3 % correction (from 6.95 to 3.50$).
So if we apply the same rule of thumb it matches with the lower part of the fib 0,382 zone (10,54$)
Regarding KCS/BTC, it bounced pretty hard around his 0,382 fib level.
At this stage, we would probably need some weeks (around 4 if we compare it to the last run) of consolidation before retesting ATH and exploring new high horizons.
The main important part is to check KCS/BTC and the weakening dominance of BTC marketcap that will probably be pushed down to at least 33% in the mid term thanks to the DeFi explosion.
In the mean time enjoy the time you have to design a well-crafted plan, because this bull market hasn’t even reached 30% of his capacity.
#NFA
#DYOR
