KNC Possible Bearish and go 6 dolars!
First of all, let's identify supports and resistances
And Resistances
If we review the graph a little, we will realize that there is an area where the demand is the highest.
2.15 - 2.29
And as we can see in this fall, how several cryptocurrencies had 9 Sequential downwards. Which I haven't done since December 11, 2020
Now let's see about the EMA and SMA and WMA
If we realize the EMA and SMA were going to cross, but the bulls managed to retake the price to the upside quite strongly avoiding this crossing.
RSI and MACD indicators sound trying to turn bullish
If the bulls manage to keep the price above the EMA20 and SMA50 and above the resistance 1, we could expect a good bullish towards 4 or 5 dollars
Personally, I consider that there is still the possibility of touching support, but I will enter the objective in 2.5 dollars or 2.7
My stop will be below $2, and I will only use a 3x leverage.
Using this strategy my possible loss in the future would be 80% and possible gain 300%. Personally, I expect a little more fall. Although I would recommend using 1.5x Leveraged.
And I think that a W Patterns could still be formed, although the OB and MB do not cooperate much this
By the way thank you very much for all the support <3
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My personal goal is $6.
