KCSUSDT Consolidating for now. Opportunities trading break-outs

The KuCoin token (KCSUSDT) has been consolidating around both the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) for the past week while being on Higher Highs and Higher Lows since the August 29 Low. We view this as a consolidation phase for the next big move not necessarily an emerging bullish set-up as the trend has been bearish medium-term since the August 10 High. It is however the first time since that top, that the short-term price action looks more promising.

Regardless of that, there is a Lower Highs trend-line to respect and until the previous Lower High (9.820) breaks, we should expect further downside it the current Support (8.900) breaks. In that case, wait for the price to enter the bottom of the RSI Support Zone, before buying again. As you see this Zone has been extremely consistent at identifying buy entries since June 18.

On the other hand, the buy break-out signal will be when the price breaks above the 4H MA200 - 1D MA50 Resistance cluster (orange and red trend-lines) respectively, which is currently exactly where the previous Lower High of August 25 is (8.900). In that case, the medium-term trend should switch back to bullish and we can target first 10.500 and then the 11.000 High.



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