SKLUSD
Been tracking this project for a while now. Its been hammered harder than other small cap alts and admittedly I got in with a position at a higher than optimal price point at around $0.72. Using Binance chart because there's a longer price history.
In the next week, I'm leaning towards another BTC drop to $48-50k in the least with a potential heavier drop to $40k, both cases in which will lead to a drop in alts obviously.
If BTC drops to $40k (200 EMA Daily) I expect SKL to get hit hard and drop to $0.38. If BTC drops to $50k (100 EMA Daily) and bounces from there I would buy in at around $0.50 for SKL. In both cases I'll be watching and buying more and more as it drops.
TPs would be $0.68, $0.83, $1.
Trade active:
Drop in progress
Comment:
No momentum above $0.60 - bear flag forming
Comment:
BTC about to hit 50k, SKL at $0.50. Not a bad price to get in but I fear BTC will dump to 40k in the next week.
Comment:
BTC's 100 EMA daily and Daily Ichimoku are acting as dual support for BTC. Really expecting a bounce here.
Comment:
Lovely bounce from the buying zone. I'd add another TP at around $0.75. This is where the downtrendline that I drew shows for resistance in the next week and probably have some more short term sellers at that area than other price points. Long term though def expect it to hit $1+ again.
Comment:
hit 0.75 and pulling back. rebuy at 0.62 if it drops that far
Trade closed manually:
Unfortunately it looks like the chart doesn't update that well, maybe because its calced by Tradingview. I will continue my thoughts in a separate idea :)