KNCUSD potential descending triangle spot on 1HR timeframe

4 Jul 2020

Hi everyone, first post and very new to trading so take what I say with a pinch of salt. I think there is a potential descending triangle on the 1hr timeframe for KNCUSD marked by green triangle, indicating a possible drop to one of the supports below before demand kicks in at one of the lower levels of support ( lowest ~$1). I've got a feeling that after this short downtrend we are going to see a bounce back towards a $2 test. Would love to know other people's thoughts. Thx