LewisGlasgow
Long

Syscoin - Bullish 5-0

POLONIEX:SYSBTC   Syscoin / Bitcoin
Today we have an excellent buying opportunity for SYS/BTC on the 4h chart with a bullish 5-0 pattern, I'm absolutely loving the look of this setup already!

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

The B point forming at a solid 1.272 adds to the structure of this pattern.

At this current moment in time we are yet to complete the C leg at the minimum 1.618, I have highlighted the two most favourable outcomes if this pattern takes shape.

1. Price will reverse at 7750, therefore, forming a valid C point at the minimum 1.618 before completing the pattern at 5000 and providing an opportunity to go long.

2. Price will reverse at 9900, therefore, forming a valid C point at the maximum 2.24 before completing the pattern at 6075 and providing an opportunity to go long.

I will not be buying until the pattern completes! Once we have a C point locked-in I will update the idea :)

I hope you all have a great weekend when it comes.
Comment: Price has confirmed 1.618, waiting to see if the pattern will complete at D or form a 2.24 C point.
Trade active: Pattern is now complete, I'll be entering shortly and now that BTC is dropping it will be a good entry level to maximise profit.

snapshot


Stop loss is set at a 26% loss, take profit set at a 56% gain.

Very obvious but I have to state this, make sure you divide your capital wisely, diversify and do not use all of your trading capital on one trade!
Comment: Bullish cypher pattern has formed around 5000 on the 1h chart providing additional confirmation for a move up over the next 7 days.

snapshot
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Some new information?
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@maciek87,

this seems to be more accurate at the moment...

bullish entry down near .2700ish
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Do you think we already missed the rocket? :/
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@Alibi01, not at all, all altcoins are down because of BTC.
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it went bellow 5k, and still not showing reversal signs
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@samideluxe, this is because of BTC, everyone is panic selling, the same can be seen with other altcoins.
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samideluxe LewisGlasgow
@LewisGlasgow, yes so it's difficult in these times to really follow charts
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Hey. NIce one, i am in :)
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@Psywalker, amazing Chris!
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Missing your analysis mate. Glad to see you back. Thanks for the update.
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