KNCBTC (Binance) Exhibits Classic Cup and Handle
I noticed that KNC was following the same pattern as NEO before the market pullback. CarpeNoctom had mentioned in one of his videos that patterns like to repeat themselves, which I found interesting. I was excited when NEO exhibited this, and matched it's high before hitting it's ATH. KNC was exhibiting the same nice U shape. During the pull back the handle formed and popped up higher yesterday and today exhibiting a nice cup and handle pattern. Cloud support shows that KNC is still bullish. Pricing before it's initial drop was at 0.00054114 BTC (after it's initial listing on Binance). 1D does not have a cloud formation yet, but the 4h chart is leaning towards a bullish run with a TK cross imminent. Volume also appears to be decent as well. I'm targeting 0.00054114 BTC which would be right around the 2x fib amount measured from the pullback. Looking at fib from the beginning of it's rally on 1/13 shows support at the .5 mark and coincides with the pullback from this week. Hard to say who the winner in the decentralized exchange world will be, but I'm long on KNC until proven otherwise.
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