EuroMotif

KNC.usd pushing towards "Moment of Truth" one more leg to $1.7 ?

COINBASE:KNCUSD   KNC/USD
KNC has been remarkably bullish .
About to reach its "Moment of Truth".
Was the big spike a "One Hit Wonder"?

EW wise, we could be ending a wave 4 and starting wave 5.
If breaks above red zone, I will plot a possible w5 target.
For now I am observing the action around these fibs for clues.

If you see blurry numbers, that is a TV rendering bug.
Here is a Snap Shot of the above
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Here is a Zoom OUT showing the fibs above and $1.7 dream target
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EW wise, perhaps something like this that wave 5 target is admittedly Optimisitc.
If we get a wave 5 it could end at any of the fibs below target.

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Comment: Is it done?

First target of $1.29 proving to be tougher than expected Was pierced on last push, but this one seems to have confirmed the EXACT position.

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Zoom IN (15min) and added green fib to last wave up Pings confirm validity nicely.
Green 4.618 has ADDED to the RESISTANCE at $1.29.
Thus a pullback from it again.

Last Ping on green 3.236 points to next possible targets if bull continues 5.236 is second most common wave ender.
6.236 not as common end point, but it within resistance zone of higher tf fibs.

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SUMMARY:
- $1.29 with solid confirmation as resistance.
- $1.30 still quite plausible given local fib pings.
- $1.25 possible launch point for next push, but if breaks, then bulls might be done.

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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Comments

any new updates on KNC will be highly appreciated!
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hurry up cause it just blew past to 1.85 and climbing to 2 for the staking. FOMO setting in
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Spot on!
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any Update?
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Excellent summary, Thank you!
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Thanks for your insight. It has yet too break down from my support. Do you think this is just a pump and dump ?RSI on 12hr confirmed rejected at the bullish 70 level. Again thanks for your analysis.
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RTurner090 itszoot
@itszoot, I don't think it is a pump and dump. It might still head down a ways (up to BTC). But if you look at the KNC/BTC chart on the weekly time frame you can see a huge inverted H&S formation as well a large flag creating the right shoulder. The breakout had good volume so it should be real. If it goes down I think only to the H&S neckline around 0.0001. Targets for both the flag and H&S are around the same place and have yet to be reached.
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