Long
Skycoin (SKYBTC) Breaks Major Downtrend (Starts To Move)
Skycoin (SKYBTC) has broken a major downtrend line that comes down from early October '18.
This break also coincides with a break above EMA50, a resistance that SKYBTC hasn't been able to break in the past after multiple attempts.
We also have a bullish RSI and increasing green trading volume.
If SKYBTC can close above 0.000291 on the daily time frame, it will signify bullish strength and additional bullish action can be expected. All targets and resistance levels are marked on the chart.
Conditions for change: On the other hand, if price breaks down and closes below EMA10, the above signals are invalidated. SKYBTC would need to consolidate further before trying to break and remain above EMA50 once more.
Right now, Skycoin (SKYBTC) is looking bullish... Thanks a lot for the continued support.
Remember to hit LIKE!
Namaste.
This break also coincides with a break above EMA50, a resistance that SKYBTC hasn't been able to break in the past after multiple attempts.
We also have a bullish RSI and increasing green trading volume.
If SKYBTC can close above 0.000291 on the daily time frame, it will signify bullish strength and additional bullish action can be expected. All targets and resistance levels are marked on the chart.
Conditions for change: On the other hand, if price breaks down and closes below EMA10, the above signals are invalidated. SKYBTC would need to consolidate further before trying to break and remain above EMA50 once more.
Right now, Skycoin (SKYBTC) is looking bullish... Thanks a lot for the continued support.
Remember to hit LIKE!
Namaste.
Note
Trade: Skycoin [SKYBTC]BUY: 0.000245 – 0.000265
(1) 0.000291 -Reached 28-Feb. (+14%)
(2) 0.000322 -Reached 28-Feb. (+26%)
(3) 0.000370
(4) 0.000430
STOP: Close daily candle below 0.000220.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.