The DESCENDING CHANNEL.After hitting a low of 1.7usd, KCSUSD has consistantly maintained inside its descending channel.
When price trends downward and fits between two parallel trendlines, moving down to hit a near low.
The price trend leading to the channel can be from any direction.
The Shape looks like a pipe tilted up or down, but not horizontal. See rectangle tops or rectangle bottoms for horizontal channels.
The two trendlines should be parallel or nearly so. Both should tilt upward or both should tilt downward.
Price should touch each trendline at least twice as distinct peaks or valleys.
Price should cross the pattern from trendline to trendline, nearly filling the available space.
Breakout Occurs when price closes outside the trendline boundary and can be in any direction 70% of the breakouit is upward.
price target after a breakout should be the height of the channel, as the great decrease has reduced the volatility of the day traders.
An indecisive candlestick has formed and waiting for it to close to make a decision of which way price is heading to.
BUY:$2 down to $1.7
SELL:$2.6 up to $4
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.