Summary: Three potential trade opportunities as long as Bitcoin price action doesn't ruin the show. Story: SKLUSD has been following an upward channel since October 2023 and the recent pullback could be a good buying opportunity to enter or add to your stack. SKLUSD is an active blockchain gaming company that provides fast, gas-free transactions that is...
In examining high timeframe setups for SKL on Coinbase, I was initially drawn to the notable trading volume, a key indicator of market interest and potential trend shifts. Upon further analysis, an Adam and Eve pattern emerged on the chart. This classic pattern in technical analysis signals a potential reversal from a downward to an upward trend. It features two...
It's a scaling solution. It has a big gaming component. It's a low cap. all the ingredients necessary for the possibility of delivering outsize gains.. Let's get to the halfway point and assess the likelihood there.
ITS HAPPENING! Skale is being adopted at a rapid pace. Set up to take a huge chunk of the web3 gaming and in turn nft market. its closest competitors are top 40 projects. (immutable - optimism - etc. ) Watch this 100x this bull... Coming to a theator near you! though on the short quick and dirty end, we are looking at 2-3x, explosively, in the near future.
Potential 80% swing trade if you wait for the right time and can be patient. Take profits look to be by end of February, and wait to see what's next. Ride the channel like a rodeo, baby. YEEHAAAA
In case of Fibo break, there may be a 7% decline within the channel.
Notice the price action during the CD leg. It’s a bearish leg and we can see a swift reversal that occurred upon reaching the 78% retracement of the XA leg. That would be the Bat pattern signal for entering a long trade.
If the flag formation breaks, it looks like it will come to the green area.
Short SKL to TP1. If we break horizontal purple support line short to TP2. Use good R:R. NFA -Mr. ZeroDay
SKL breaking out of the triangulo. What da dog doin?
currently coiling in wave 3 targeting .05, then a wave 4 correction with ultimate target .06+ NFA y axis only
As above. Well so goes BTC, so goes SKL etc. There is a channel that formed and we might see price recover to 0.7 area again but uncertain what it will do after that. I would be cautious to interpret this as a bull flag pattern that is developing until we can confirm breakout of upper trendline with higher volume. Good luck traders!
SKL Short 4hr Time Frame. R/R Posted. Follow for more ideas. - Mr. ZeroDay
SKL is in a good place to make a long position. Short term price action will dictate the outcome. New bullish trend potentially forming on 4hr Heiken Ashi.
It seems likely that we are going to enter a mini bullish cycle, this will give SKL a chance to break the tight wedge and retrace back down to create a higher low and set the stage for the beginning of the next market cycle. Or should our markets go to hell in a hand basket we have the red scenario as well. More or less just putting this idea down for my own...
This coin is looking extremely oversold while its on chain usage metrics is showing a parabolic growth curve. I would think this should be entering a market repricing shortly as its market cap is only 100mill right now while it has over 12 million transactions per day currently.
Like previous ideas even if this is a bearish bounce I believe it's going higher - blue reaction lines to tag potential reversal point.