💎Technical Analysis Summary💎
BINANCE: SKYBTC
-Skycoin broke the weekly key level of support
-The price is starting to go lower while BTC is going higher
-Technically, this is bearish because the new Lower Low is made
-Since there is no logical support to be found
-Price discovery will occur and longer consolidation is expected
-So if you have a position please...
SKY/BTC
-Cross Ultimate indicator flashes Buy signal priority last July 10
-the price has increased over 80% returns
-there are two best entries highlighted on the chart
-assuming this is the temporary top price today
-immediate areas to watch is between 0.236-0.382 fib support
-wait for the price to consolidate and give bullish sign reversal
-please do not enter blindly
SKY/BTC
-the price reached the swing low support area
-if this is another potential bounce up
-we might see a retest of the trendline resistance again
-if a break of resistance is happening
-trend change and target the upside up to 7700s
-enter a Buy order once a line resistance is broken
SKY/BTC
SKY broke bullish of this descending trend-line resistance but immediately rejected by the 200D MA.
Though rejection is seen on key resistance areas, Bulls still has the chance to prove this breakout is real and has more room for growth in the coming weeks.
Key areas must hold is between 6000 - 5000 sats to keep the uptrend momentum in good control.
Seems like we hit the bottom! SKY is looking very good for near future! now we are in accumulation zone and preparing for big BOOM move. From march volume is rising. Potential targets on the chart, stop if we go below trend line.
Skycoin fell way too low after it's trouble with the theft/kidnapping of CEO drama (will post more on this story if requested, lol), but it appears -- based on action over the past 72 hours -- to be making a corrective move back into normal ranges. I've set this up as a general roadmap/guideline for stair steps, but it will need updating once more data can be...
