Hi Guys,
I have been away from the crypto space from last 3-4 weeks due to some reasons. And a lot has been changed from that point. It took some time to process that. Now let's talk about SKY coin.
SKY has been very week in last 1-2 weeks and now gaining some strength. Now it's working on forming a strong bottom.
According to the theory, the significance of the support and resistance depends on the time it spends around that and the trading took placed in that range, which is good enough to signify the support level.
it's been traded between 800-1100 range from last 1 week and it looks like it is working on the Saucer bottom, which means it can breakout soon may be in next week but it will much more depend on how BTC reacts in the range of 5800-6500, which is very crucial for the bitcoin. In the market like all coins seems to depend on BTC totally. So the reactions of the BTC will play an important role in this prediction.
Good entry point will be between 875 to 950 Satoshi.
Target is around 3000 Satoshi (300-350% profit)
stop price is just below 800 Satoshi (10-15% loss)
which is a good risk-return ratio.
Final words, this is not a financial advice. These are just my thoughts, do your own research and go for the trade.
I have been away from the crypto space from last 3-4 weeks due to some reasons. And a lot has been changed from that point. It took some time to process that. Now let's talk about SKY coin.
SKY has been very week in last 1-2 weeks and now gaining some strength. Now it's working on forming a strong bottom.
According to the theory, the significance of the support and resistance depends on the time it spends around that and the trading took placed in that range, which is good enough to signify the support level.
it's been traded between 800-1100 range from last 1 week and it looks like it is working on the Saucer bottom, which means it can breakout soon may be in next week but it will much more depend on how BTC reacts in the range of 5800-6500, which is very crucial for the bitcoin. In the market like all coins seems to depend on BTC totally. So the reactions of the BTC will play an important role in this prediction.
Good entry point will be between 875 to 950 Satoshi.
Target is around 3000 Satoshi (300-350% profit)
stop price is just below 800 Satoshi (10-15% loss)
which is a good risk-return ratio.
Final words, this is not a financial advice. These are just my thoughts, do your own research and go for the trade.