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KCSUSDT trade ideas

Using The Volume ProfileI have been a trader in the Kucoin coin (KCS). I downsized my position into the run up to ~20 but kept 10%. Needless to say, I wished I'd sold all of it near the top. On 5-6 June it made a sharp move up. It caught me off guard, and I wasn't sure what to do. It was against the overall market direction. Do I let it run thinking it will go back to 20? The market didnt seem ready for that. Do I sell it, and still make profit on my original trade? To answer the question, I had to formulate where I thought it was headed following the first big move up on Jun 5-6. Often times the price takes a rest after a big move so I had at least a day to evaluate. I used the volume profile tool to make my decision because trendlines and fibonacci's didnt tell me any reason why it paused at 13-14. The volume profile indicates that a very large % of coins were bought between 12.5-14.5. Those coins went deep into unrealized loss with the market correction where there was fear and strong emotion. One of the main impediments to a market rally after a long and deep correction is that many of these owners will have lost faith in the coin, and in the market. They will be very happy to just break even if they can. When KCS tried to rally again after 5 days and stopped on the .618 fib, I decided to sell my remaining KCS. As a trader, it wasnt a huge decision, but the satisfaction of using the correct tool to make the correct market analysis was satisfying. I use the volume profile tool very often. I feel it may be the most underrated analysis tool. Combined with simple market psychology, it can be an invisible line of support or resistance that not many people dont see amongst their complicated trend lines, ichimoku clouds, Bollinger Bands etc. BTW, Kucoin is forming a nice cup and handle.
by BarnBuilder
KUCOIN SHARE LONG TERM BUY OPPORTUNITYKCS is the native token of KuCoin, which was launched back in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralized trading solution goes live, KCS will be the native asset of KuCoin's decentralized financial services as well as the governance token of the KuCoin community in the future. KuCoin has also announced that “Empowering KCS'' will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to further diversify the benefits that KCS holders can access. In the long run, KCS performs as the key to the entire KuCoin ecosystem. With the development of DEX and KuChain, KCS will also be the underlying fuel and general token for future KuCoin decentralized products. More details will likely be released in the near future. KCS Bonus is regarded as one of the best ways to get passive income. Users who hold more than 6 KCS can get a daily dividend, which comes from 50% of KuCoin's daily trading fee revenue. KCS Bonus is a unique incentive mechanism for KCS holders and KuCoin ecosystem builders. The amount of rewards that users can get depends on the number of KCS held and the trading volume of the KuCoin Exchange. Besides being paid out as a dividend, KCS, as a utility token, is also used to pay for trading fees on the KuCoin Exchange, allowing users to enjoy discounts of up to 80%. The use case of KCS also includes participation in the token sale on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform. But this is not all, as KCS tokens also serve a series of other purposes on the platform. For instance, KCS holders can become KuCoin VIPs and users no longer need to have a huge BTC trading volume to unlock the reduced maker and taker fees. KCS can also be used as a payment method for shopping, making hotel reservations, buying gaming equipment, and more. The KCS initial supply was set at 200 million. KuCoin and the KCS team are buying back KCS from the market and burning them every quarter. The amount of KCS to be burned depends on the quarterly trading volume of the KuCoin Exchange. So the circulating supply of KCS is decreasing and will eventually settle down at 100 million. TOKEN ANALYSIS The cryptocurrency sector linked to exchanges in the form of utilities is enormously rosy, the best known case is BNB (Binance Smart Chain) , that from a quotation of a few cents of dollars has reached $ 700 in the space of a few years. Should we expect the same thing for all other exchange-related utility tokens? No. Although the utility tokens of exchanges have excellent fundamentals, as they find concrete use within an ecosystem it is not certain that all tokens can appreciate over time. In fact, I remind you that the BNB has developed its own blockchain while tokens such as KCS have been developed with Ethereum smart contracts (ERC-20), not bringing any kind of innovation from a technological point of view. It is good to remember this when evaluating our investment. Kucoin is a young exchange, born several years after Binance and still has many news to reserve in the future, most of which concern Kucoin Share Token. This token has a volatility of 99%, so take this into account when deciding how much capital to dedicate to this investment. Observing the price trend, we cannot fail to notice that unlike the previous bullish peak of 2017-2018, today the price is structuring, creating a totally different trend from that of a speculative bubble. In analyzing this asset we can assume that its nature of generating a passive return, of creating incentives for holders on their exchange, added to the burns that will decrease the availability of total tokens, can contribute to a dizzying growth in the price in the medium / long term. If we analyze the blockchain, in fact, we can see that over 95% of investors have blocked their tokens for over 2 years. This means that if medium / large capital should enter the KuCoin price could see a strong bullish push. Not that it can be positive in the long term for this token, which according to my forecasts will be able to surpass all-time highs in the coming months. At the same time it is a very risky investment not suitable for beginners. I recommend entering the market with different positions split over different time periods to mediate the impact of volatility and decrease the risk of the transaction. A good price range on which to enter this market is contained between 9$ and 15$, a temporal take profit of at least 3 years and a stop loss in case the price breaks down the trendline. Remember this is not investment advice but just my market opinion!
Long
by UnknownUnicorn25541012
1
KuCoin - soon to make another move !!At the end of december 2020, when the Altcoin Market bottomd, KuCoin was a great bargain ! When it broke out of the 12 month channel it shot up and made almost a 30 X move from its bottom. Since then it has been consolidating for 6 months, drawing a beautiful bullish pennant. Volume is showing steady interest for this fantastic exchange token from one of the most popular exchanges of the world (acutally number 5 by volume). Soon price will make a decision: my take is it will blow up in an impulsive way. The projected price of this formation is between 100 and 120 USD. Thinks will soon start to get very interesting ! WATCH OUT !!
Long
by Dangermousebanana