I've been looking at Kyber Network (KNC) on Binance for a while now. I've been receiving messages asking me to review this coin
many times, so I always kept my eyes on the chart waiting for the right signals to trade this coin.
So are the signals there? Let's take a look at just a few of those...
Note: Before we even get started... Please allow time for this trade to develop. If you are unsure, have doubts or can't take a loss... Please do not trade, as there is always risks involved with trading. Prices can go up as they can go down, and the market can change pretty quickly based on hundreds if not thousands of different factors.
*** Kyber Network (KNC) Trade Analysis by Alan Masters ***
###Chart signals & indicators
Let's first take a look at the daily chart:
- Here you can notice how the candles are becoming smaller and curving, signs of possible change. - The TD count reaching its lowest point, with #8 being a neutral candle and #9 a new green candle, with the potential to start a new run. - The RSI has been hovering around the oversold line for two weeks now, a very strong signal telling us that sellers have exceeded their balance. KNC has been oversold for long. This same indicator allows for plenty of room for growth once the action starts. But we need to look at a shorter time frame, if we want to look for possible breakouts and bullish signals.
On the 4 hours chart the reversal signals are easier to spot. Let's take a quick look:
- First you can see a strong period of positive divergence (purple lines), where the price is going down but the MACD is going up, making higher lows. At the same time it is starting to trend upward after crossing over and showing plenty of room for growth. - The RSI went to "extreme" oversold and finally bounced to start trending up. The other indicators are also showing early signals of a trend change; from negative to positive. - The shorter time frames are giving better signals, with the MACD and RSI already bullish and a strong breakout is already on its way.
###Trade instructions
Here are the instructions for this trade:
Buy-in: 0.000154 - 0.000177 (If above buy-in range, wait for retrace to buy in)
"Trade closed: stop reached" normal ending in most of your TA
hermansingh
⋅
R.I.P.
miguelsim
⋅
@hermansingh, hi you dead first and crypto life. Long life to both. The force !
olympiabull
⋅
This is the last project Vitalik said he would advise on. He is also listed as an advisor on Kyber's website
Ecua_Trader
⋅
Alan as you know my friend I’m not too bad at btc predictions. This is a mess chart but read comments. That will give you a sense of where the market is. If you can’t figure out btc predictions are not good. Consider my TA at least. I have told you 3 times we will dump and you have ignored me all. There was no horizontal movement of btc. Btc does not move that way. Take care friend. Keep up the good work.
nuzixip
⋅
Really good idea... thanks!
AlanSantana
⋅
@nuzixip, You're welcome. Thanks for your comment.
sergio00
⋅
Be careful with the fake "breakouts". This weeks we saw severals fakes in small AltCoins. Buy with Stop/limit order to buy low and put another stop/limit order to sell high. Buy in the first wave is very dangeorus.
Thank @Allan for you reports!! always!!!! but even most experts is difficult to predict the behavior of a market so manipulated that it does not respect the indicators of a chart.
Sergio
JaimeYanez
⋅
Is been a rough week man.
Thx for the update and hope btc let us breath hahaha.