KCS/BTC - The KCS magic vs Bitcoin may be fading! 😢

KuCoin managed to outperform Bitcoin for the first six months of 2022. However, things appear to have changed in the past two months with KCS failing to make higher highs vs Bitcoin.

Now, the price is found at critical support at 5k satoshi and if it fails to hold here then KCS could fall back to 4k-3k satoshi.

The indicators are bearish and the USD chart is not looking better either. See below.

At best, KCS could consolidate above 3k satoshi and hopefully the market together with BTC will find a bottom that will allow KCS to recover again.

The bias remains bearish on this price action and I will revert back to this chart once we have a clean break from this current level.

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