KCS has been stuck in a tight range for over a month now. The resistance at $21 has held price from any attempts to move higher fou times so far.
The support at $19 was broken only once during the Russian invasion of Ukraine, but then the price quickly recovered and went back into its current range.
This consolidation is welcomed because it follows after a significant downtrend that started in December 2021.
Now, the price is stuck in a grey zone from where it can go in either direction. BTC will likely lead the way and is found in a similar situation (see my BTC idea below).
The indicators on KCS remain flat as well without any strong trend. Hence, best to be patient in such moments and let the market decide before taking a position.
The bias remains neutral for KCS in the near term.
KCS will require quite a bit of volatility to break its current range. This is lacking right now, so we wait.
Like and follow if you liked my idea!
The support at $19 was broken only once during the Russian invasion of Ukraine, but then the price quickly recovered and went back into its current range.
This consolidation is welcomed because it follows after a significant downtrend that started in December 2021.
Now, the price is stuck in a grey zone from where it can go in either direction. BTC will likely lead the way and is found in a similar situation (see my BTC idea below).
The indicators on KCS remain flat as well without any strong trend. Hence, best to be patient in such moments and let the market decide before taking a position.
The bias remains neutral for KCS in the near term.
KCS will require quite a bit of volatility to break its current range. This is lacking right now, so we wait.
Like and follow if you liked my idea!
đź“Ł Find more Alpha by joining Your Crypto Community đź”° LINKs BELOW đź”°
🔹 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! 🚀
Related publications
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.
đź“Ł Find more Alpha by joining Your Crypto Community đź”° LINKs BELOW đź”°
🔹 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! 🚀
Related publications
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.