$KNC/USDT 4h (#BinanceFutures) Rising wedge

Kyber Network Crystal made a new ATH yesterday but seems to be losing strength, a correction would make sense.

Current Price= 4.573
Sell Entry= 4.648 - 4.868
Take Profit= 4.101 | 3.661 | 3.221
Stop Loss= 5.309

Risk/Reward= 1:1.2 | 1:2 | 1:2.8
Expected Profit= +27.66% | +46.14% | +64.64%
Possible Loss= -23.12%

Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 2x
Estimated Gain-time= 2-3 weeks

Tags: #KNC #KNCUSDT #Kyber #v2 #KyberSwap #DEx #AMM #DAO #Governance #DApp #DeFi #BSC #Marketplace

Website: kyber.network

Contracts:
#ERC20 0xdeFA4e8a7bcBA345F687a2f1456F5Edd9CE97202
#BEP20 0xfe56d5892bdffc7bf58f2e84be1b2c32d21c308b
#Polygon 0x1c954e8fe737f99f68fa1ccda3e51ebdb291948c

Trade active:

All entries filled

KyberNetworkCrystal bounced as planned so far, let's see if we finally gets a rejection.

Trade closed: stop reached:

SL hit with -23.12% (2x)

Seems like a bad stop hunt so far KNC, we still expect 4$ to be retested at least and holding short towards it still makes sense.

Comment:

Back to highest entry

KyberNetworkCrystal is finally retracing and broke-down locally, we still expect first target to be reached.
If you held short or entered back then don't give up so fast, patience will probably pay after that shooting star!