KuCoin KCS; Possible Bullish Reversal
Hello Traders! CTDave here again with another daily price analysis chart.
Today I will be analyzing the Kucoin token KCS.
Let's take a look at the 15-minute timeframe first:
So as you can see, there is a downward channel that formed. Right now, it has hit the support So you can expect a tiny reversal to the next resistance area. After that, a drop can be expected to around ~$13.50 which is indicated by the red arrow going down with a small retrace, as you can see. Afterward, a rise will follow up to the orange resistance line.
Now, let's look at the 2-hour timeframe:
As you can see, we are in a bullish breakout triangle which is inside another breakout triangle as can be seen from the 1-day timeframe:
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
Today I will be analyzing the Kucoin token KCS.
Let's take a look at the 15-minute timeframe first:
So as you can see, there is a downward channel that formed. Right now, it has hit the support So you can expect a tiny reversal to the next resistance area. After that, a drop can be expected to around ~$13.50 which is indicated by the red arrow going down with a small retrace, as you can see. Afterward, a rise will follow up to the orange resistance line.
Now, let's look at the 2-hour timeframe:
As you can see, we are in a bullish breakout triangle which is inside another breakout triangle as can be seen from the 1-day timeframe:
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
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