KNCUSDT Higher Lows Structural Resistance|Volume Influx|.618 FIB
Evening Traders,
Today’s Analysis – KNCUSDT – bullish price action trading into its apex where a break will be imminent.
Points to consider,
- Consecutive higher lows
- 21 MA support
- Key structural resistance
- Oscillators above 50
- Strong volume influx
KNCUSDT has established consecutive higher lows under key structural resistance; this gives us a bullish bias on the market.
The Oscillators are both trading above 50, further solidifying the short term bullish bias.
Immediate support, the 21 MA, in confluence with the .618 Fibonacci, if price retraces it must hold as this area is the apex.
A strong volume influx is evident, it needs follow through which is a technical signal of demand being present in the market.
Overall in my opinion, a retrace to the .618 Fibonacci will allow for a valid long, risk is defined at previous swing low. This is front running the break so discretion must be used upon management.
What are your thoughts?
Thank you for following my work!
And remember,
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Today’s Analysis – KNCUSDT – bullish price action trading into its apex where a break will be imminent.
Points to consider,
- Consecutive higher lows
- 21 MA support
- Key structural resistance
- Oscillators above 50
- Strong volume influx
KNCUSDT has established consecutive higher lows under key structural resistance; this gives us a bullish bias on the market.
The Oscillators are both trading above 50, further solidifying the short term bullish bias.
Immediate support, the 21 MA, in confluence with the .618 Fibonacci, if price retraces it must hold as this area is the apex.
A strong volume influx is evident, it needs follow through which is a technical signal of demand being present in the market.
Overall in my opinion, a retrace to the .618 Fibonacci will allow for a valid long, risk is defined at previous swing low. This is front running the break so discretion must be used upon management.
What are your thoughts?
Thank you for following my work!
And remember,
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas