After the surprising BTC pump yesterday, the alts are back now starting to turn green.
Technical Analysis:
SKY has tested a major support of 0.000250-260 for the past few days and it has bounce back up gracefully.
Below are the resistance, and for me it's the profit target:
T1: 0.000308
T2: 0.000326
T3: 0.000463
T4: 0.000524
Best entry: 0.000250-260
Such a bullish setup for this coin, with the right volume and the right push, this coin would reach the sky and beyond!
Technical Analysis:
SKY has tested a major support of 0.000250-260 for the past few days and it has bounce back up gracefully.
Below are the resistance, and for me it's the profit target:
T1: 0.000308
T2: 0.000326
T3: 0.000463
T4: 0.000524
Best entry: 0.000250-260
Such a bullish setup for this coin, with the right volume and the right push, this coin would reach the sky and beyond!
Comment:
Sky has been hovering between 280-290. This could continue for the next few days AND it depends a lot on the parent's movement, the big ol' BTC.
As for now, if the daily candle closes above the immediate resistance at around 310, then minor resistance at 326, Sky would rally up until the next resistance which is around 380. Most importantly, don't forget to secure your profits.
Do FOLLOW and LIKE this post for immediate updates!
As for now, if the daily candle closes above the immediate resistance at around 310, then minor resistance at 326, Sky would rally up until the next resistance which is around 380. Most importantly, don't forget to secure your profits.
Do FOLLOW and LIKE this post for immediate updates!
Comment:
If we look from a bigger time frame, Sky is still in the accumulation zone = cheap Sky!
We can observe that the price swing is getting tighter and tighter which means breakout is getting closer and closer!
We can observe that the price swing is getting tighter and tighter which means breakout is getting closer and closer!
Comment:
BTC has been very very unpredictable for the past weeks which is not so good for alts. Amazingly, Sky has been doing pretty well holding up on a major support around 260 during this turbulent period! :)
Just to remind everyone that we are still in the accumulation zone and we can identify a falling wedge which is a bullish pattern.
However, it is important to wait for a potential breakout: To observe if there is above-average volume when we are nearing the trend line resistance.
If there is breakout, Sky would potentially rise by at least 30% in the short term before retracing a little. Do keep on eye on BTC movement
BTC has been very very unpredictable for the past weeks which is not so good for alts. Amazingly, Sky has been doing pretty well holding up on a major support around 260 during this turbulent period! :)
Just to remind everyone that we are still in the accumulation zone and we can identify a falling wedge which is a bullish pattern.
However, it is important to wait for a potential breakout: To observe if there is above-average volume when we are nearing the trend line resistance.
If there is breakout, Sky would potentially rise by at least 30% in the short term before retracing a little. Do keep on eye on BTC movement
Trade closed: stop reached:
Previous BTC movement screwed this trade. Let's move on.
Look at the monthly chart. It looks sexy!