KuCoin Is Finishing A Complex Correction
Nov 21, 2022

KCSUSD

KuCoin is finishing a complex wave 4 correction, as we see an overlapped wave structure from Elliott wave perspective.

KuCoin is trading bearish for the last year, but looking at the weekly logarithmic scale chart, we see it finishing a complex wave 4 correction that can find the strong support soon, ideally here around the EW channel support line and equal wave length 2=4 that comes around 5-4 area. Invalidation level is at wave 1 swing high @ 2.5.

KuCoin Is Finishing A Complex Correction. KCSUSD Weekly Chart
KCSUSD Weekly Chart

If we take a look at the daily chart, we can clearly see an overlapped wave structure, which belongs to a complex (W)-(X)-(Y) corrective pattern, where we are tracking final stages of wave C of (Y) of 4.

KuCoin Is Finishing A Complex Correction. KCSUSD Daily Chart
KCSUSD Daily Chart

If we are on the right path, then new rally within higher degree wave 5 can be near, probably at the end of 2022 or beginning of 2023. However, keep in mind that first bullish evidence is only above 10 region, while bullish confirmation level is above 18.

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