Updated

KNC.usd Bubble Popped or Loading for next Leg? KEY levels Mapped

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Between Mod duties and my own trading it is not easy to post.
I will do my best to update, or post new plot if this changes.

Kyber Network Coin recently added to Coinbase.
Thus the spike which looks like so many others.
"One Spike Wonder"? or will make another push?

This coin has been around for quite some time.
Last big spike was after the addition to Binance.
Since then it just melted away, like so many alts.

Now it has gotten a boost from US retail market.
Will Coinbase population buy and hodl this coin?
Or will whales pump it then dump it as usual?

The numerous zones are needed for gauging strength.
Plus the amplitude of the spike caused many ripples.
Of interest is which zones react in which manner.

$ 0.8034 - 8093 is the Decision (neutral) zone.
Break and Retest could launch the next leg.
Currently looks like bears have control of it.

$ 0.7475 - 7539 bounce would be Ultra Strong bullish.
$ 0.6916 - 6962 is the Minimum Expected retrace level.
$ 0.6705 - 6710 looks Likely to be Hit, possible bottom.

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Note

Nice Ping

Very nice bounce on the "Strong Bull" zone

.

Zoom IN (1 min)

beautiful acknowledgement of the zone,
Now heading towards the Decision Zone.

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Note

Pong (after Ping) :)

Just hit the decision zone as anticipated

Committee meeting in progress I guess

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Note

Breakout Attempt in Progress

Bulls got past the Decision Zone briefly

but ran into that Thin Blue Line (fib)

Interestingly enough, that Blue Fib line is from this series

That is what I call the "Pulse" fib.
Kind of like a metronome, keeps the beat.

Also notice the 9.618 top!
I have an entire "Chapter" dedicated to the 9.618: "Murderer of Moves":

The ''Pulse'' of an asset times Fibonacci: Chapter 3: the 9.618

^^And interestingly enough (again), KNC was the Poster Child for that Chapter. How fitting!

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Note

( ( Ping ) )

Just touched the "Minimum Expected" zone

.

Zoom IN (5 min)

Nice Ping.

But I DONT think it will hold, lets see...

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Note

Another reason to think this could bounce on 1 min:

this fib looks pretty tight.
4.236 is a very common end of a wave.
Especially when the 2.618 has reacted.

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Note

So much for the 4.236!
Lets see how the 4.618 does

after that pause at the 4.236, bulls better jump in at the 4.618.

Otherwise, not good :(

Note

Knife catching exercise

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Note

Stop Loss at Break Even now https://nowhttps://tradingview.sweetlogin.com/x/pRwO5uup/

..

Note

Stop Loss at Minor Profit now, hiding behind a strong fib (4.236)

Note

That dark blue fib above, now put into context of original plot

I had expected we go to the thick dotted line below at .6075 and still might. But the Dark Blue fib gave a nice Ping on its 4.618 after a clean ping and bounce attempt at the blue 4.236 just above.

..

Note

uh oh

ran into fib of next order higher

..

Note

Might add a wee bit if we come back to the blue 4.236 and show some signs of bounce

Note

Thus endeth our Knife Catching excercise:

SL at minor profit hit.

Oh well, worth the try, covered fees and spread and cleared a wee bit of profit.
Will keep watching tho, really looking like it wants to bounce.

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Note

Beautiful!

Brings tears to my eyes

.

Zoom IN (3 min) for a closer look

Nice bounce, now into possible resistance.
Took some profit here, will look to add again at support

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Note

12% move

Nice recovery

might see a bit of a pullback here,
or maybe not, looks quite strong here.

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Note

Heads up for Resistance

mid-78 cents will be resistance and 80 cents will be Royal Resistance

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Note

Ping

Nice ping on the support zone at .7232

Would be a perfect little retrace if it holds...

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Note

Not good

Cascading through the zones

At least it is recognizing each one.
That means sooner or later it WILL come to rest on A zone.
Which zone I never know, so I draw all interesting ones,
and watch the reactions to confirm or deny each zone.

So we are pretty much at the bottom of the acceptable uptrend retrace.
But I gotta admit this pne is in danger of slow decay to the nether worls :(

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Note

Awesome Bounce, and of course from A zone

Bottomed PERFECTLY at the "Uptrend at Risk" zone

.

Zoom IN on bounce

Might be ready for a pullback here,
but looking pretty strong!

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Note

Heads up at $0.7289

-0.618 extension after a bounce from 0.618 retracement

Watching closely here.

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Note

Pulling back as expected.

Lets see if the support zone just below holds or not.

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Moment of Truth

Just hit first support

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Note

We have a bounce?

Decent bounce but form a little below the originally mapped zone

it bounced off the -0.236 extension of new purple fib of last bounce.

I will now make some adjustments to the zones based on this new info/data.

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Note

ALERT

The more I look at this bounce, the more it looks like an ABCDE

I think ABCDE rather than a 12345,
because the waves are overlapping.
12345 really should not have overlaps.
ABCDE almost always have overlapping waves.

So time to become very CAUTIOUS.
This could drop an ANY moment.
UNLESS we get past 80 cents and confirm as support.

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Note

Ping

Just hit the lower bound of "Strong Resistance" zone again

absolutely perfect reaction.

Now lets see if it can get past.
I think yes, since this zone was hit before,
and with every hit the zone gets a little weaker.

(needless today, the ABCDE proposed in last update above looks to be IN-validated.

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Note

Zoom on above Ping

WOW

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Note

Pong

"Pong" as in opposite of Ping

:)

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Note

Perfect "10" on this Fibnastics Routine

back to back 618 handstand kick overs :)

Gorgeous. BUT also acting more like an ABCDE than a 12345 thus far....

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Note

I have posted a NEW idea, with a Hyper Bull scenario and updated zones of interest

KNC.usd has a path to a Buck: Kyber network Hyper bull scenario

I will be posting updates on above idea from now on.

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag