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FireHoseReel | SKY Is Gaining Strong Momentum🔥 Welcome to FireHoseReel ! Let’s check what SKY is setting up right now. 👀 SKY – 4H Overview SKY has managed to recover its recent price drop very well over the last few 4H candles and is now approaching a major breakout resistance. If this bullish leg continues, SKY could experience further upside expansion. 📊 SKY Volume Analysis Volume has increased clearly during the recent rise. If the upcoming pullback is accompanied by decreasing volume, followed by a renewed expansion in buy volume and an upside move, this would serve as a strong confirmation of trend continuation. ✍️ SKY Trading Scenarios 🟢 Long Scenario A pullback toward the $0.05582 resistance, followed by lower corrective volume, and then a strong volume expansion after confirming resistance-as-support, could activate our multi-timeframe long trigger. 🔴 Short Scenario A break below the key support at $0.04893, accompanied by heavy selling pressure, could provide a valid short setup for SKY. ❤️ Risk Management & Emotional Discipline Crypto trading is highly risky. Without proper risk management and emotional control, trading is no different from gambling. Logic must always come before emotions. Learn to manage your trades, and enjoy the process of trading with control and discipline.
Long
by FireHoseReel
#SKY/BTC : Learning Wyckoff Accumulation Schematic #1 ------------------------------------------------------------------ What is Skycoin? ------------------------------------------------------------------ "Skycoin (SKY) is an open-source, community-owned, hardware-based peer-to-peer internet that leverages the incentive structure of the blockchain. Skycoin’s platform has been billed as 'completely secure, infinitely scalable, and ISP independent' by the project team. Skycoin is focused on security, usability, and ease of use. Skywire, the flagship application of Skycoin, aims to decentralize the internet at the hardware level. Skywire's objectives extend beyond providing decentralized bandwidth - it also aims to offer storage and computation." www.skycoin.com coinmarketcap.com ------------------------------------------------------------------ Skycoin is in a category of Cryptocurrencies called "Web-3", "Web 3.0 is slated to be the new paradigm in web interaction and will mark a fundamental change in how developers create websites, but more importantly, how people interact with those websites." If the Web 3 Category of Cryptocurrencies gets some positive attention or news this would be great for Skycoin also. www.techopedia.com ------------------------------------------------------------------ What is Wyckoff Accumulation? ------------------------------------------------------------------ "One objective of the Wyckoff method is to improve market timing when establishing a position in anticipation of a coming move where a favorable reward/risk ratio exists. In accumulation, the shares purchased outnumber those sold while, in distribution, the opposite is true. The extent of accumulation or distribution determines the cause that unfolds in the subsequent move out of the TR ." ------------------------------------------------------------------ A trading range shows us an equilibrium between buyers and sellers, and the Wyckoff Theory & Schematics give us clues to which probable direction the price may head out of the horizontal moving price structure. In this particular example on SKY/BTC : Skycoin we can see the highest volume on record was on the buy side when the price fell below the Horizontal Trading Range, if the price can get back inside this area it may be a good clue that it was a fakeout trapping the sellers below the range, and transferring the wealth from the fear striken to the hands of the patient for the next Mark Up phase. See Wyckoff Links below for further knowledge & reference Schematic of Accumulation, I have also included the schematic on the chart. ------------------------------------------------------------------ Source and more great basic intro information for Wyckoff Method: school.stockcharts.com Current Schematic on Skycoin: school.stockcharts.com ------------------------------------------------------------------ If Skycoin can find support at the 0.000045 area then a strong upside movement to 0.000063-0.000076 is possible, in the case of a Alt Season or continuous Crypto Bull Market even higher prices can be achieved once the Trading Range is claimed again. Thank you for reading, don't forget to follow for more educational ideas and Wyckoff Templates.
Long
by Worth_The_Ri5k
3
SkyCoin - 15 days left to get aboard !!SkyCoin is a solid but unknown project that has several use cases and several working products (please refer to past posts). It has been bouncing inside a bullish wedge for about 4 months now, since big money wanted to get in (price spiked 800% in 1 day back in February 2021). There are 2 weeks left to get aboard. June 2nd should signal decision time. My guess SKY will break to the upside. Let's watch closely how this one unfolds. Personally I may enlarge my position.
Long
by Dangermousebanana
SKY/BTC (Weekly Support Brokedown?)💎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 reduce the risk exposed A big Thanks for donating 💰 via Tradingview coins this week to ahancock 🙏🎉 `````````````````````````````````````````````` Trading Involves High Risk ⚠️ Not Financial Advice 💸 Please Exercise Risk Management 💱 `````````````````````````````````````````````` Thank You All!🙏😊💖For Supporting My Channel 📺 Through Leaving A Thumbs Up, Comment & Follow 💬 Happy Trading!😊💕💖 ``````````````````````````````````````````````
by PolarHusk
5
SKY-BTC pump coinGreetings, low capitalization coin, traded on binance, hasn't pumped yet. We drew a triangle from which a false breakout was made, after which the price rolled back to the trend. It is quite possible that the price will be lowered into the support zone 45, the local support is also the trade in the zone 52-55, the fixation above which can be considered as a good sign. Important resistance zones are marked on the chart and determined using the indicator of horizontal volume VPVR. If the idea turned out to be useful for you, support it with likes. I also remind you that I have a telegram channel, the link to which can be found in my profile, where I place ideas more often, and intraday trades.
Long
by Kirill_Gaitan