KuCoin Token / KCS had a good opportunity to move above the $21 resistance, but was unable to do so to date.
In its attempt to break above, it also formed a nice ascending triangle represented in blue on the chart.
However, bulls were not strong enough and with BTC falling under $40k (idea below), the outlook is not great.
KCS has broken below the triangle and now price is holding above the $19 support level.
Likely for this level to not hold KCS for long. For this reason the real support that HAS to hold is at $17.
This is because if $17 can't stop this bear market, then KCS may revisit $14 even.
Time will tell. Bias is bearish based on this price action.
Like and follow if you liked my idea! 💪
In its attempt to break above, it also formed a nice ascending triangle represented in blue on the chart.
However, bulls were not strong enough and with BTC falling under $40k (idea below), the outlook is not great.
KCS has broken below the triangle and now price is holding above the $19 support level.
Likely for this level to not hold KCS for long. For this reason the real support that HAS to hold is at $17.
This is because if $17 can't stop this bear market, then KCS may revisit $14 even.
Time will tell. Bias is bearish based on this price action.
Like and follow if you liked my idea! 💪
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 7,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 7,000 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.