Chain (XCNUSDT) followed the pattern we suggested 40 days ago and after a short rise it dropped to the -0.236 Fibonacci extension level:
As you see, today is having a +22% rise. The long-term pattern is a Bearish Megaphone on this 1D time-frame. This short-term rebound is aiming at the 1D MA50 (blue trend-line), between which and the July 11 Lower Highs...
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For this particular analysis on Chain we are using the XCNUSDT symbol on the KuCoin exchange.
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The idea is on the 1D time-frame where XCN has been trading within a Falling Wedge pattern since the August 04 Low. As you see the pattern has reached a level where it is too narrow at eventually will break out. In the event of an upwards break-out, the...
