KCS's price is found right on the $17 support level. If broken, then price will likely quickly take a nosedive.
Volume is low and the indicators are all bearish. If the market sentiment does not change soon (which appears unlikely), then KCS's consolidation between $21 and $17 will end with a breakdown.
The next key level of support is found at $15 should that be the case.
With both the stock market and BTC taking a beating it is very hard to be bullish. Therefore, my bias is bearish at this time and prepare for the worse while hoping for the best.
Ideally KCS will be able to have a nice bounce after reaching $15.
Time will tell. Until then, stay safe!
Like and follow if you liked my idea.
Volume is low and the indicators are all bearish. If the market sentiment does not change soon (which appears unlikely), then KCS's consolidation between $21 and $17 will end with a breakdown.
The next key level of support is found at $15 should that be the case.
With both the stock market and BTC taking a beating it is very hard to be bullish. Therefore, my bias is bearish at this time and prepare for the worse while hoping for the best.
Ideally KCS will be able to have a nice bounce after reaching $15.
Time will tell. Until then, stay safe!
Like and follow if you liked my idea.
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.