Intro: - KuCoin evolves into one of the big competitors of Binance, FTX and Coinbase. - Often times Coins are listed earlier on KuCoin than on other major trading plattforms. - The current marketcap is around 1 billion which is much smaller than the marketcap of the main competitors.
Daily chart: - Price shows an upwards breakout of the very large consolidation wedge. - Volume starts to rise but very slowly. We have much room to grow here. - RSI analysis shows that we are moving upwards alongside the yellow line. We take a look at the 80line which is considered the border to the overbought territory. - Support lines are at 9$ and 6$. The borders of the wedge can act as support as well. - Resistance lines are at 14.2$ and 19.5$.
Expectation: - We expect to see further price appreciation until the end of this year. KCS has to close the distance to its main competitors. - The 14.2$ resistance should not hold that long. Once we break it 19.5$ is next. - End of year prediction: We will see a 50$+ KuCoin before the end of 2021.
Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers
ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone . Check the description.