KNC - Inverse Head & Shoulders? Gains Ahead?

KNC has been seeing some long term consolidation, confirmed with declining volume. Looks like we're nearing the end of it.

Interestingly looks like an Inverse H/S formation, which would imply gains ahead.

Clear Accumulation area on the chart, RSI is aggressive and not overbought, MACD is looking like a new uptrend forming.

I'm confident DeFi as a sector will see growth in 2021, and I'm confident KNC will see growth after seeing this chart.

Couple ways that growth could play out however, and we could see a correction still before long term growth. Likely this would end at the support area, or shoulder level.

Play it however you'd like really. If you're patient it'll be hard to not make money in this setup.

This is not financial advice. Want financial advice? Go to a financial advisor.

Kommentera:

Looks to be invalidated, was a shite idea anyway!

Kommentera:

That feeling when even your invalidated ideas hit their targets.... What the actual F*ck