Quick chart today for SKYBTC, pretty simple setup.
We just broke through hourly downtrend and looking to test first level of resistance at .000135. If we can break above this level I would look for entry after a successful 4 hour close above .000135 and look for a move up to our tested level at .000152. First major target would be the start of this downtrend at .000175.
If we fail to breach .000135, I would look for an entry in the .000116~122 support area.
Decent increase in volume over the past few days so we could see some action soon.
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So just a few minutes after charting we got a first test of .000135. Monitoring to see if we can close above.
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We had a nice move up but failed to test .000152 and came back down. Bounced precisely off of previous resistance turned support at .000135.
The bounce off .000135 was a bit weak, needs to move up soon or I'd expect break of this support.