KuCoin Token / KCS had a good opportunity to move above the $21 resistance, but was unable to do so to date.

In its attempt to break above, it also formed a nice ascending triangle represented in blue on the chart.

However, bulls were not strong enough and with BTC falling under $40k (idea below), the outlook is not great.

KCS has broken below the triangle and now price is holding above the $19 support level .

Likely for this level to not hold KCS for long. For this reason the real support that HAS to hold is at $17.

This is because if $17 can’t stop this bear market, then KCS may revisit $14 even.

Time will tell. Bias is bearish based on this price action.

Like and follow if you liked my idea! 💪