donthavename123

KNC $KNC Weekly Shooting Star

KUCOIN:KNCBTC   Kyber Network / Bitcoin
Last week produced a fairly obvious shooting star candle, which formed right through a key level. The drop below last week's candle signified a breakout to the downside, but now, price has recovered to inside the range of the shooting star. This candle closes in just over 2 days. If this weekly candle closes inside the shooting star, I would read this as a failed shooting star, which on a weekly chart is pretty significant imo, and should indicate further gains in KNC over the next weeks to months. If it closes below the bottom of last week's shooting star, then the shooting star will most likely play out and we can expect a correction in KNC price over the next few weeks to months. The stochastic has started to cross, but is at a high level, so this cross is not significant yet, and the RSI clearly has more room to run higher. This is not financial advice
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