KlejdiCuni

KCSUSDT: In-depth Analysis Of Weekly Candles | 📚Read Content📚

Long
KUCOIN:KCSUSDT   KuCoin Token / Tether
Key Information:
KCS is the native token of KuCoin, which was launched back in 2017 as a utility token that allows traders to share the growth benefit of the exchange.
The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain.


So firstly let's break down the trading time frames:
As we discussed in the previous analysis below, on the 4-hour chart we are watching to trade the CD leg of the pattern. (analysis below)
On the daily chart , we are watching for the price to move higher up to $45. The chances for the daily movement will strongly increase if the price will move beyond $28.80. (analysis below)

Today we will discuss the weekly candle analysis:
During the last week of November, the price made a high and a low located between 17.81 and 28.77
During December for the last 4 weeks, the price is moving inside the two points above.
A characteristic that we can observe here is that the price keeps making higher highs and higher lows by developing a bullish structure in this way (only for the last 4 weeks)
During the last week, the price tried to break above the previous week's high but without any success.
The low volume caused because of the end of year holiday is keeping the price blocked again but now in a smaller trading range between 20.1 and 23.53 the borders of the previous week.
Any break of the price above 23.53 would increase the chances for our CD leg of the harmonic pattern from the previous analysis.
A breakdown of the price below 20.10 would push the price directly lower to test the beginning of December close to 17.81.
I am not expecting any bearish scenario yet because if we observer closely all the weekly candles have long shadows on the lower part. That is a clear signal of a strong bullish position from the market participants.

Short-Term Targets:
24.50
27.50

Medium-Term Targets:
32. 40
35.00
45.30

Thank you and Good Luck!


Seventh Idea:


Sixth Idea:


Fifth Idea:

Fourth Idea:


Third Idea:

Second Idea:


FIRST AND BASE IDEA:
Comment: KCS: The price tested the previous week low and it looks ready to test the top of the this week again.

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