KNC suddenly shows a death signal! 0.58 tonight determines life and death
Isn't this surge of KNC quite frightening? In 24 hours, it shot up from 0.326 to 0.63, a 92% increase that can be called a rocket in the crypto world!
But looking closely at that towering upper shadow line, it crashed back down from 0.63 to close at 0.6275, just like throwing a bucket of cold water on the enthusiastic bulls!
Now looking at the technical aspects:
MA70.3639 is climbing above the MA30 golden cross, the Bollinger Bands expanded from 0.1814 to 0.4643 like a balloon about to burst, clearly indicating a short squeeze market!
RSI's three lines have all broken through the 90 death line, while KDJ is even more outrageous—J value is practically partying in the overbought zone! The MACD bars are still expanding, but the divergence rates of DIF and DEA have reached near three-year peaks, raising the question—how risky is this car with the gas pedal to the floor?
Looking back at that long shadow line, it resembles the same 'tombstone line' pattern before last March's crash! So I believe, if the 0.58 neckline cannot hold, those brothers who chased the highs might just have to experience a 'plunge straight down three thousand feet'!
Currently, the market is: the trend has not broken but has entered the meat grinder stage! If it stays above 0.58, there is a dream of new highs; if it breaks, the gap at 0.54 and the middle Bollinger Band at 0.48 are beckoning you!
The market liquidity is poor over the weekend, but there are still opportunities to get in, follow me for daily quality strategies shared with you!