Syscoin (SYSBTC) is the next altcoin pair to wake up and print a high volume breakout.
This breakout above EMA5/10 is normally followed by a retrace, but this is the signal that this pair is waking up.
Notice the red trendline, with a close above 0.00000360 satoshis on the daily timeframe, this resistance is broken and SYSBTC can start to consolidate or a new...
#SYS - Daily chart showing ascending price action with ascending support.
50 day SMA acting as STRONG resistance, as you can see it's been tested and rejected many times. A breakthrough of the 50 day SMA (green) would be very bullish.
Breaking the ascending support would be bearish.
SYS/BTC is currently consolidating on top of old resistance around 300-310, and is currently testing this descending resistance line that has held the price down since July 17th. As price enters the apex of this pennant/wedge formation, we could see SYS break to the upside for a potential 7-12% move, if not higher up toward that 4-hour 200 MA in Red. We also have...
The trade is a very simple one. The CCI is indicating a buy signal on the one day chart. The bulls spiked the price yesterday and we are now in consolidation mode until the bulls are ready for their next attack.
Target 1: B.00000500 (+17%)
Target 2: B.00000600 (+40%)
Target 3: B.00000800 (+85%)
Target 4: Open (Will update trade idea when...
Syscoin (SYSBTC) seems to be reaching a low after printing a strong bullish candlestick pattern.
Back in mid-May a low was hit and SYSBTC bounced and tried to break above EMA50 without luck. After this low was hit EMA5 and EMA10 were easily broken but there was no volume to support this break, this can be easily seen on the chart above.
We take a look now at the...