Descending Triangle with Minor Support and Long Term Downtrend
Just an idea labelling my view and what I see, I tried to keep it unbiased as possible. I identified some local, minor, major, long term trend lines & support & resistance zones.
From those lines drawn up I noticed a descending triangle forming with the LTDT and the Major Support, also, the RSI has equalized from the most recent pullback, and has room for further downwards pressure. The price also broke down from the 50 EMA and was rejected after a retest, I believe this is a bearish signal.
KNCUSDT
From those lines drawn up I noticed a descending triangle forming with the LTDT and the Major Support, also, the RSI has equalized from the most recent pullback, and has room for further downwards pressure. The price also broke down from the 50 EMA and was rejected after a retest, I believe this is a bearish signal.
KNCUSDT