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KNCUSDT trade ideas

Binance Hot list coin July, 6th 2020 : KNCUSDT #2On the 2 hours chart, the price is trending slightly above the 55 EMA which acts as a strong dynamic support (yellow). Beside that the price is now forming a strong bullish falling wedges. This is however could be the action to complete ABC zig zag correction structure. I will only catch the B wave which align with the golden pocket zone as well before shorting the C wave. Just like usual, open long position when the price breaks out of the upper line of the falling wedges.
Education
by julio24albert
Kyber Network (KNC USDT) - Breakdown of Recent Trades I recently took two discretionary positions on KNC/USDT. In this analysis I've documented my thought process and execution sequentially from left to right in the call outs. In these trades I used several methods of analysis. 1. Chart Patterns My first trade entry was predicated upon a Rectangle Top Pattern I identified KNC forming. Rectangle Tops occur during bullish up trends and when the overall market is bullish, as altcoins currently are, they have a high probability of breaking to the upside. 2. Trend Analysis Fundamental to my trading strategy is trading in the direction of the overall trend. Trading against the dominant trend is like stepping over dollars to pick up pennies. Using the Daily and 4HR time frame, I identified that KNC was above my Base Line indicator, therefore confirming a bullish trend and that I should be trading to the long side. 3. Target Measurement For my initial trade I used Bulkowski's measurement method for Rectangle Tops, measuring the difference from Resistance to Support and adding that to Resistance. This proved to be successful, however my first trade ended up running quite a bit beyond my target. For this reason I used my primary method of profit taking, 50/50. I take 50% of my profit at a pre-determined level and allow the rest of my position to run to take advantage of powerful trends. 4. Indicator Support Utilizing my ICYSbot indicator and strategy to help supplement entry and exit conditions. 5. Patience and Risk Management I used a position sizing strategy where a pre-determined percentage of my account is at risk should my trade hit the stop loss. In this case, I personally used 2% risk per trade. I also did not rush these trades, I let price evolve and the trend emerge as it did. I attached no personal bias or feelings toward the trade. Overall, quite happy with these trades. I hope this post was helpful in providing insight into how I view the markets and trade execution. Thank you for your support. Trade safely!
Education
by CrackingCryptocurrency
KYBER NETWORK 🟩 Levels To Keep An Eye On For Continuation💬 Kyber Network (KNCUSDT), also known as Kyber Network Crystal (a Star Wars reference), has been on a rip recently. Being the native token of a popular DEX that somewhat recently starting trading on major exchanges, there is some reason to be bullish on this beyond this chart! The question here today is this, can the bulls force push us out of this range, or will the bears Darth Mual these kyber crystals past the support levels below? Let's do a quick take on some levels. Hit that 👍 button to show support for the content! Help the community grow by giving us a follow 🐣 ----- Support: S1: The S1 bullish orderblock is the first and most logical point of support for bulls on their journey to the moon, should they need it. S2: The S2 S/R flip and orderblock cluster is a strong support level that logically should see a reaction if retested. Below S2 is bad news for the bulls, so it will be vital for S2 to hold if we get there. Resistance: R1: if the bulls can find support and rally, or if we just break up from here, the R1 previous upper range becomes the first and only clear point of resistance on the chart. A break past this then gives the bulls another shot at making new highs. ----- Summary: KNC has been on an incredible run and there is no real sign the move is over. There is clear support for the bulls to hold if they should need it. Any break below support is pretty bearish after all of this, so holding support and eventually breaking R1 is paramount. Resources: www.marketwatch.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨
by AlphaBotSystem
KNCBTC anothe bullish reversal pattern is formedHi friends hope you are doing well and welcome to the new update on Kyber Network. The KNC has surged more than 930%. Therefore in today’s post we will try to have complete analysis how how the KNC surged and what the price action can do next. A big butterfly move: Last year in September 2019 I posted in article on tradingview. Where I revlealed that the price action of Kyber Network has completed the formation of bullish Butterfly and it can make up to 512% big move. And finally as per prediction the price action took a powerful bullish divergence and produced more than my Expectations and that is 930% very big move. A descending triangle and bullish signals: There was another bullish signal that the price action of KNC gave before taking this powerful bullish divergence. The price action of Kyber Network was moving in a descending triangle and in May 2020 it was moving in the area where the trader’s interest was very low as per volume profile indicator. I have also placed the moon phases indicator on this chart and you can see that the new dark moon was appeared exact at the support of this triangle and the new full moon was above the resistance of the triangle. That was a clear indication that it will be difficult for the priceline to break down the support and it will breakout the resistance. And finally the price action followed the signals and broke out the resistance of this triangle. Bullish reversal signal after correction rally: After first bullish move in the month of March 2020 the price action started a correction rally. During this correction rally the price action completed an other bullish reversal pattern on the weekly chart that was another clear signal that the price action will not stop here and soon it will make another powerful bullish move. And that pattern was a Cup & handle. The resistance of the Cup was at $10,000 and the handle of the cup retreced upto 0.382 Fibonacci retracement level and finally broke out the resistance of this cup. Support and resistance levels: Now if we switch to the 4 day chart then we can observe four major resistance and support levels. 0.00006500 sats, 0.00010000 sats, 0.00014000 sats and 0.00027500 sats. The price action formed a double bottom on 0.00006500 and broke out the next resistance of 0.00010000 sats and moved up to 0.00014000 sats resistance level. Now the price action is facing hard resistance at this level. If the priceline of Kyber network will be moved down then it can retest the previous resistance as support at 0.00010000 sats. The 0.00014000 sats is very important resistance for the priceline as if it will be broken out then there is no significant resistance from this level up to the next resistance level of 0.00027500. Therefore this 96% gap will be covered within a no period of time after breaking out the 0.00014000 sats resistance. A bullish reversal harmonic pattern is formed: While the price action is stuck at 0.00014000 sats resistance level it has formed a bullish Shark pattern on a very small time period 4 hour chart and entered in the potential reversal zone of this pattern. Even though this is not as that much big pattern that can give a powerful push to the price action to break out the next resistance however this bullish reversal pattern can be e helpful. Conclusion: If the next resistance level will be broken out then we can again see another very powerful bullish move. But if it will not broken out then the price action may start a bearish rally up to the previous support at 0.00010000 sats.
Long
by moon333
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