KCS Technical Analysis: Consolidation Is On The Verge Of Completion
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Analyzing the weekly timeframe, we see that the current candle almost overlapped the previous one. The probability of the KCS price falling to the bottom of the consolidation of $17 is quite high. This scenario will indicate the weakness of buyers. However, keeping the mark of $17, buyers can still count on the formation of a new growth wave. In case of loss of this mark, the downward trend will increase and the chance of growth will sharply decrease. With a negative scenario and fixing the KCS price below $17, we expect to fall to $14.
Technical Analysis Of KCS On The Daily Timeframe
Analyzing the KCS price movement on the daily timeframe, you can see a small victory for buyers. The trend line of sellers from December 2021 was bravely broken up. On 29 March, the KCS price accelerated its growth and buyers showed their potential. However, there are many sellers in the KCS market at the moment. So now buyers are trying to buy them at local lows. The trend line of buyers is still restrained and this gives a chance and motivation to continue to grow the KCS price. If the Bitcoin price stays around $42,000, the KCS price has a good chance of breaking the $21 upper consolidation limit and continuing to grow to $25. Continuing the BTC price fall to $38,000 will completely break the current structure of buyers' growth and significantly expand the range of consolidation to $14-$21. In such a wide range, the KCS price can be traded until the end of August 2022.
The KCSBTC Price Is Preparing For A Breakdown Up
Positive bells sound bright on the KCSBTC price chart. The narrow price consolidation of KCSBTC organized by buyers near the liquidity range of 0.00048 shows the desire of buyers to continue to grow without correction. Note that consolidation occurs at an angle. Buyers do not even allow KCSBTC prices to approach previous local lows. At the same time, the local high in this consolidation is steadily updated. This market situation indicates the strength of buyers and a high probability of breakdown in the range of 0.00048 up. The next major target of the new growth wave is 0.001. This is the range of the historical high, in which we expect significant resistance from sellers. It is in this range that you should record profits and wait for the reaction of sellers.