KCS/USDT Breakout and strong retest of 14.8$. Where can we go?🚀
Intro:
- KuCoin evolves into one of the big competitors of Binance, FTX and Coinbase.
- Often times Coins are listed earlier on KuCoin than on other major trading plattforms.
- The current marketcap is around 1 billion which is much smaller than the marketcap of the main competitors.
Daily chart:
- Price shows an upwards breakout of the very large consolidation wedge. Additionally we see a retest of the 14.85$ resistance which turned to support.
- Volume starts to rise which is a bullish sign.
- RSI analysis shows a bounce back of the red 80 line. The orange line on the other hand now seems to act as support.
- Support lines are at 14.85$, 9$ and 6$. The borders of the wedge can act as support as well.
- Resistance lines are at 19.5$. Once we pass this we are in price discovery mode together with Ethereum and many other coins. The sooner the better.
Expectation:
- We expect to see further price appreciation until the end of this year. KCS has to close the distance to its main competitors.
- The 14.2$ did not last long and so shouldn't the 20$ line.
- End of year prediction: We will see a 50$+ KuCoin before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
- KuCoin evolves into one of the big competitors of Binance, FTX and Coinbase.
- Often times Coins are listed earlier on KuCoin than on other major trading plattforms.
- The current marketcap is around 1 billion which is much smaller than the marketcap of the main competitors.
Daily chart:
- Price shows an upwards breakout of the very large consolidation wedge. Additionally we see a retest of the 14.85$ resistance which turned to support.
- Volume starts to rise which is a bullish sign.
- RSI analysis shows a bounce back of the red 80 line. The orange line on the other hand now seems to act as support.
- Support lines are at 14.85$, 9$ and 6$. The borders of the wedge can act as support as well.
- Resistance lines are at 19.5$. Once we pass this we are in price discovery mode together with Ethereum and many other coins. The sooner the better.
Expectation:
- We expect to see further price appreciation until the end of this year. KCS has to close the distance to its main competitors.
- The 14.2$ did not last long and so shouldn't the 20$ line.
- End of year prediction: We will see a 50$+ KuCoin before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
