Looking back on my last SYS chart, I said that I would be bearish unless the 4H closed above approx 0.00004900. AS you can see indicated by the RED arrow, we closed just above this. Closing above here broke the common downtrend seen thought sys in the past weeks and months and we broke out. We may still have some momentum to get past the falling wedge and if we do I see us flying towards ATH. This is one to be on the lookout for. Buy the breakout above yellow rectangle seen on chart. As always DYOR but this one looks good to me. Let me know what you guys think thank you!
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Damn, major resistance at falling wedge doesnt look like we will be breaking out quite yet.If you open up the chart you can see where my line stopped the run dead in its tracks. Looking at a 30 min time frame we might be looking for a restest but im not sure yettttt. As I like to say, buy the breakout.
Lot's of good stuff coming for this coin in the upcoming weeks! What do you think, is this a good time to buy @ 6200 ish or should I wait till it dips a bit?
LuisSustaita
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@GuidoMulders, I would wait for a break of the macro trend and buy the breakout. The news coming out about the project could be the catalyst to push it past ATH.
GuidoM84
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@LuisSustaita, Thanx! So maybe setting a buy order around 6300 then before going to sleep :)
LuisSustaita
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@GuidoMulders, risky play if youre doing a short term trade. The falling wedge is bullish if we can break above and hold there, but if we cant it acts as major resistance so i would wait for a longer term time frame to make sure we indeed are on a rocket ship.
Also these lines and fibs arent perfect, its very hard to call the exact price before breakout. If I were you Id either stay up and watch or just go to bed. Better to save money and wait for a good entry than to force an entry and lose money. As always its your money do what youd like. I will be updating this post when I enter. Thanks happy trading.
GuidoM84
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@LuisSustaita, Yeah, you're absolutely right! Better wait till tomorrow, let's see how things will evolve, I'm always up early so fingers crossed :)