6.13: KNC has been at the bottom for 18 months and is ready to take off
The current currency I recommend to you today is KNC. Yesterday, I shared with you the ideal entry area. Due to my own schedule, I was unable to publish a long analysis on the same day. In fact, if you look at the big cycle, KNC is still in the bottoming stage. The bottoming time is 0.447 on January 1, 2023. Until today, the overall bottom oscillation has been one and a half years. Why is it still in the bottoming state? This is because the entire currency price has experienced four peaks during this period. The peak positions are roughly around 0.90, and the trough is around 0.50. The price has not gone out of the continuous daily itinerary and amplitude. From the highest position of 5.77 in the last bull market (April 28, 2022), compared with the current position of 0.78, the decline is still 85%, and it is still far from the top. Therefore, it is still at the bottom.
The current analysis of this currency is mainly based on the relatively good performance on the daily chart. KNC made a rapid charge to the top on March 15 this year, and the price reached a high of 1.13 in nearly a year and a half, and then was pulled down by the peak of Bitcoin. It failed to achieve high-level shock shipments, and the subsequent waves of decline led by Bitcoin were also very obvious, and the bulls did not have obvious resistance. However, since the last big drop on April 14, the price has not fallen below the new low of the day, and the subsequent lowest level has always remained above 0.52. From the state of the past month, the price formed support at the bottom of 0.53 and then fluctuated upward. At present, the large-cycle MA60 and above moving averages have turned around to form a bullish arrangement state, and the rising channel is in the early and middle stages. The entire K-line is testing upward, and there have been many large positive lines in the middle, showing that the price has accumulated bullish momentum and active buying signs.
The rising channel of the four-hour MA moving average remains intact, and the retracement usually takes MA 30 as support for rest. That is to say, the current support below is at 0.72, which is a strong support point, and the support at 0.66 is very strong. This is also the reason why Medal gave the entry area and the replenishment area yesterday. Of course, we still need to observe this currency more from the details. Bitcoin led a rapid decline in the early morning of June 8, and KNC failed to escape, but soon there was a strong V-shaped rebound. The price quickly and continuously pulled up to exceed the position before the decline. The trend was very exaggerated. Although there was a decline later, the low position of the decline was far away from the previous low, and the price pulled back again after the decline. There were many rises and falls in the middle, but the entire low position was constantly moving up, and the high position was constantly breaking upward.
What is important is that from the early morning of the 11th, Bitcoin led a 21-hour continuous decline, while KNC did not follow the trend and fell for a long time. There were three charges during the Bitcoin pause. After the price stopped falling at 23:00 at midnight, the price rebounded faster. It can be seen that there is obvious resistance from the bullish forces and signs of active buying, and the trading activity is very high. At the same time, after Bitcoin sent a sharp charge of 70,000 points yesterday, it showed a trend of drawing a door of 67,000, but the price of KNC remained near yesterday's high. The bulls were very strong and there was no accumulation of selling pressure. Based on the above information, Xunzhang believes that the shape and detailed performance of KNC will promote a higher upward trend in prices, indicating that the price will challenge the peak high of 0.90 at the end of March in the short term, and then test the pressure of 1.10 in mid-March. Once it breaks out of the one-and-a-half-year high of 1.15 (the first time may have a short decline and correction, and the next breakout means that it is fully prepared), this coin is likely to impact the target area of 2.0.
In terms of operation, it is recommended to prepare for spot entry in the 0.720-0.735 area, and to bravely cover positions in the strong support area of 0.665-0.680. The short-term target is 0.90, the medium-term is 1.10, and the long-term target is 2.00.
A must-read for cryptocurrency lovers: The cryptocurrency market requires highly professional knowledge and comprehensive information analysis. Dealing with it alone can easily lead to emotional influences, resulting in long-term gains and losses. Welcome to follow Medal, which will help you stand high and pursue cryptocurrency wealth from a professional perspective!#KNC、每日智能策略 
