WE HAVE SNIPED THE POTENTIAL KEY LEVELS WHERE $KNC WOULD LIKELY BOUNCE AND HERE'S WHAT HAPPENED!
With how extremely bullish the crypto market is right now. It would be easy for everyone to enter long positions and take profits in shorter timeframes. Although, the challenging task would be to identify the optimal positions for a possible bounce of a specific altcoin. That's the challenge that we take every time the market dumps in a markup phase of a market structure and vice versa with pumps in markdown phase of a market structure. As you can see with the entry that we did for KNC. There were several key levels where we've entered long positions after the retest at 0.4933 happened last August 25. We have identified the price 0.4136 as the optimal entry point for a sniper entry. This holds a total risk of 3.70% and a total profit of 30.56% which is an RRR of 8.26. After the profit was taken at the potential high selloffs from the weekly trading range of KNC. We can still see that the bullish momentum is still lingering around, causing the price to stay on top of the retest level. Once the crypto market resumes with its aggressive movement. We can expect KNC to reclaim the major support levels it once held from 2022-2023. Therefore, the best way to interpret the market structure of KNC is that it's undergoing the accumulation phase where many would expect the price to no longer recover but whales beg to differ.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
