💎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
Pair: SKY/BTC
Exchange: Binance
Trade Duration: Medium
Risk: Low
Signal Strength: High
Introduction
Created 6 years ago by original contributors to Bitcoin and Ethereum, Skycoin is a 3rd-generation cryptocurrency platform that anchors a revolutionary blockchain ecosystem. At the core of the Skycoin ecosystem is a novel consensus mechanism called...
Tightness of consolidation and well defined structure + demand pressure in blue suggests an imminent breakout in Skycoin. Measured against Ether it'll likely be the stronger in the coming hours/days/maybe week(s).
