Going strictly by the fib fan and the mirrored pattern we are seeing here with the interior cup and handle spanning over 1000 days which would bring KNC to its all time high and from there possibly into price discovery if it can surpass that level. Consolidation periods for these moves may be more or less exaggerated then shown but you get the idea.
Comment
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Currently trending under the 0.5 fib line which is acting as resistance, once it breaks next stop should be $1.55 at the 0.618 and then $2.45+- at the fib 0.75
Once this breaks the 0.618 fib line it will complete the two and a half year cup and handle pattern and should see about a spike in price around $1.30 to the upside if the pattern plays out as planned
Care to update? My short-term target is 3.30 and a mid-term target of 5.49.
mattyghost1
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2.80 has hit
Wayne_Enterprise
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slightly delayed pattern formation?
swilton
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Thanks for the update!
Sledge360
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@thecardiak how are you feeling about kyber right now? I feel it has woken up and has potential as uniswap is having liquidity issues but how do the technicals feel to you now? Thank you for
Sledge360
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@thecardiak is this still seeming nearly valid? It looks very similar as of today and it looks like this may be my last chance in this range. Thank you
TF-Trader141
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this is invalid. I recreated it and these points on the fib fan are only valid if in Log scale. Cannot use log with fib fan or any fib retracement for that matter
thecardiak
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@TF-Trader141, Well I hate to be the one to break it to you but the majority of the cryptos that have been around since their blow off top last bull market have been closely following/respecting the fib speed ratios on their logarithmic charts not linear. If you were doing linear very if any of them would line up, in logarithmic they almost all line up perfectly. Adapt ;)
TF-Trader141
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@thecardiak, Oh I know they don't line up. Thats what I said in my first comment :). However, log is not textbook when it comes to fib channels. then again, if BTC dumps, which it will, it will break the holy support on your log with fib chart invaliding it anyways. Because lets face it, if BTC dumps of the cliff it ties all the alts and brings it down with it. Adapt doesn't play any role :). Follow BTC