🛑 $ KNC: SHOULD WE "CATCH THE BOTTOM" LONG NOW OR CONTINUE TO STAND OUTSIDE? 🛑
After the free fall from the peak of 0.19$, $ KNC is currently resting at 0.148$ – right next to the MA99 support line. Is this a chance to get rich or just a "falling knife"?
Personal opinion:
⚠️ No reversal signal observed: The sell candle is still very long and there has been no sign of a trustworthy pullback. Jumping into Long now is no different from stopping a truck going downhill.
⚠️ Pressure from the overall market: Looking at the global board, it’s all red. When the "big players" are still fleeing, the expectation that $ KNC will recover strongly immediately is somewhat unfounded.
⚠️ Strategy: If you want to Long, at least wait for the candle close to confirm holding the 0.145$ zone and for buying Volume to appear again. As of now, protecting capital remains the top priority!
Are you planning to catch the bottom or wait for a further drop to 0.12$? Leave a comment to discuss! 👇
