KNC.usd has a path to a Buck: Kyber network Hyper bull scenario

KNC is at a key "fork in the road" (pun intended).
One way leads to new ATH on coinbase and $1.00.
Other way leads to a Pump-n-Dump death march.

The bounce thus far resembles a nested pair of 12345's.
But it could also be an ABCDE correction before dropping.
The fib ratios however, strongly support the bull scenario.

$ 0.8034-8105 is the Decision zone and possible launch pad.
$ 0.7745-7821 is bull IN-validation, or at least a weak bull.
$ 0.7406-7475 must be held to keep any bull momentum.

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This Idea a followup to my plot that caught the "bottom" perfectly:

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If interested in my Methodology, see my "book" :
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed Samples and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: one Ping only

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Comment:

Market Wide Dump in Progress

Bitcoin taking everything down with it,

but KNC faring better than most,
although we are the "Bull Invalidation" zone.

Lets see how this goes, hard to fight the tide but this coin is trying hard.

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Comment:

Back at the Decision Zone

Got a decent bounce from intermediate support

right back to the Decision Zone

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Zoom IN (3 min) for a closer look at the zones

Nice!!

So lets see what happens here.

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Comment:

Decision Made.

Looks like it was a thumbs up

Lets see how it handles the resistance above.

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Comment:

So much for the "thumbs up" mentioned above.

Market wide dumps continue so KNC took a sharp as well

BUT, this coin lost the LEAST ground while others retraced a much higher percent already.
So I think that as soon as BTC stops crashing, this coin might do a fast and furious recovery.

I will keep an eye out for signs of BTC bottoming, as which point we will want to see what KNC does.

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Comment:

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# MAJOR UPDATE #
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Market Wide dump Continues but KNC still holding its value better than most

And we got a decent bounce at the "Bulls Last Stand".

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Zoom IN (8 min) and adding a fib of the drop

got a nice Ping on the 2.236, not so clean on fibs below.
Note the 3.618: should have reinforced our dotted line.
But pierced both, not a great sign but bounce was good.

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Given the possible loss of control by the red fib at the 2.236 offers a clue.
Perhaps there was a new impulse that took primary control at some point.
So looking at the drop AFTER the red 2.236 ping, we have this Blue fib

So the drop thus far looks to have been caused by two separate Impulses.
Pings at blue 4.236 and 5.618 are confirmations and captures that bottom.

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That then implies an ABC wave like this:

However, this does NOT mean correction is "done".
But is does indicated there is a CHANCE it is done.

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Zoom OUT (1h) with new red and blue fibs in context:

Looks like a perfectly plausible ABC

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So looking at the EW count again, we have this possibility:

we COULD be starting a "wave (3) of (iii)".
If so, this could be a massive move coming.

HOWEVER, the market sentiment is NOT good.
Stock markets dumped in Asia/Europe sessions.
US session in 3 hours, will be determinent factor.

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SUMMARY:
- Market gravity pulling down hard, but KNC remains most buoyant.
- It is POSSIBLE correction is done, but NOT likely in my option.
- But IF done, then we COULD be ready for a wave "3 of 3", a great entry.
- Overall market sentiment says now is NOT the time for a massive push.

ie: Proceed with CAUTION.

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