SUMMARY
Kyber Network (KNC) put in an abc correction as a flat (3,3,5). The subwaves of the final C wave breaks into white abc and then fives, as shown in below chart. It does seem very much like a bottom and that would require 1,2,3,4,5 (blue) impulse to confirm. The earliest sign of a trend reversal is an impulse in the opposite direction of the correction.
I'll venture to put out a longer term, intermediate degree of trend (multi weeks to months). The big picture shows that wave 1 is complete and 2 is in progress. Perhaps 2 is not yet complete and so lower lows would not be surprising. I've taken the vertical height of wave 1 and extended it 3.618 to generate an approximate Fibonacci based target for wave 3. The longer term prospect for Kyber Network seems favorable. Remember, this is a many weeks to months degree of trend, so expecting an overnight result would be unreal.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Thanks!
Kyber was one of the coins which held better during this bloodbath!
I love that you are talking about kyber Network! The more press about this coin the better, it's going to have huge implications if we can fully implement it! One of the biggest hindrances I have encountered with Bitcoin is how long it takes for transactions to be processed. I don't care for myself because I understand that all of it will happen in its own time and there really is no risk that I'm inherently taking by storing my Bitcoins on this or that exchange or in this or that wallet other than a crisis. However when I'm buying Bitcoins for my friends or family or just people who want to invest, trying to explain to them why it takes so long for the Bitcoin that they purchased to reach their Cold Storage wallet is a feat in and of itself because Bitcoin is such an abstract concept to begin with. Trying to explain why it takes so long to transact is an even harder abstraction to try to explain in words. Kyber network will solve many of those problems, my biggest hopes is that they can minimize the transaction fees for storing Bitcoin in a cold storage wallet or any place for that matter. I was doing the calculations the other day and just to move a Bitcoin from one wallet to another is about $30... That's excessive and absolutely outrageous! I know kyber network isn't particularly focusing on the cost of transaction fees but maybe in the future there will be another coin that couples with kyber network for Speed and transaction fees...! But either way I appreciate your projections on this chart and I definitely definitely appreciate you talking about this! People already know so much about the mainstream coins, it's people like you and I that are going to educate the world about the alternative currencies and ICOs! Rock on brother! Yet another good post! :-). Oh yeah and I appreciate you LOL! Almost forgot the most important part!
STEEMIT POWAHH FTW!!!! <3 Steem more than cookies!
I cannot agree more.
Tyvm :-)!
Thanks for the good analysis :) always~
Nice @haejin
SPXL Littlest Loser
Good post my friend.
Fantastic TA, Thank you very much my friend!
Thanks for the info.
Thank you for the information.
I have it too.