KCSUSDT pricing a bottom. Check those Support & break-out levels

The KuCoin token (KCSUSDT) has been under pressure since the April 20 High but since yesterday we see the first signs of a potential bottom.


** Technical Analysis **
As this 4H chart shows, the token is trading on Lower Highs since the March 29 High that formed the 22.000 Resistance level. A 4H Death Cross (MA50 (blue trend-line) crossing below the MA200 (orange trend-line)) will be formed today, which is a bearish pattern but the last time we saw this (March 07), it was formed on a bottom. In fact it priced the bottom and the token turned sideways into a High Volatility Zone until the late March break-out to the 22.000 Higher High.

With the 4H RSI also forming a bottom sequence, it is possible to have the same pattern again. Notice also that the Ichimoku Cloud has already turned red, which previously has been a solid sign for a buy.

Our strategy is to buy towards the Lower Highs trend-line and then engage on the longer term only when the 22.000 Resistance breaks.


** Fundamental Analysis **
KuCoin manages to keep the bar high in the fundamentals section and this week the talk of twitter is the Spotlight Trial Fund. I won't be getting into more detail on this one but you can find more information on this big event on their twitter page.



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