KuCoin Is Finishing A Complex Correction
Nov 21, 2022


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.

Check our latest video analysis about USDCHF and GOLD. CLICK HERE


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.