Let's take a look at the chart:
- 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. support from the last wave. Almost all altcoins tend to bounce once they reach this retracement level.
KNCBTC can generate over 100% profits on its next 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 . With no on a drop , we would still be looking for a strong bounce to the upside.
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Thanks a lot for reading.