alanmasters

KyberNetwork Reaches Support (100%+ Potential Bounce)

BINANCE:KNCBTC   KyberNetwork / Bitcoin
Here is an early call. KyberNetwork ( KNCBTC ) just reached support and has high potential for a bounce around this area (current price).

Let's take a look at the chart:

  • Volume has come to a halt yet the price is dropping.
  • EMA100 is working as support. MA200 follows and the price is very likely to bounce here.
  • MA200 coincides with Fib. 0.786 retracement support from the last bullish wave. Almost all altcoins tend to bounce once they reach this retracement level.

KNCBTC can generate over 100% profits on its next bullish wave.

Conditions for change: A full candle close below MA200 would give additional momentum to the bears but it needs to be confirmed by good volume . With no volume on a drop , we would still be looking for a strong bounce to the upside.

Feel free to hit like if you enjoyed this trade idea.

Thanks a lot for reading.

Namaste
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