SysCoin / BitcoinUpdated SYS/BTC Cup and Handle Forming
The SYS/STC pair appears to be forming a cup and handle. With the rebranding coming, it is likely this pattern will complete and the price will take off.
My target buy in is at 3850, stoploss at 3600 where there seems to be some weak support. For those willing to risk more, a stoploss at the stronger support of 3400 would be appropriate. Targets at 5000 and 7000.
Of course, if the bitcoin price takes off, there is a chance this alt will tank with all the others. I suspect the BTC price will drop in the next few days, leaving the door open for a short term rise in alts.
THIS IS NOT FINANCIAL ADVICE. USE THIS INFORMATION TO MAKE YOUR OWN TRADING CHOICES.
My target buy in is at 3850, stoploss at 3600 where there seems to be some weak support. For those willing to risk more, a stoploss at the stronger support of 3400 would be appropriate. Targets at 5000 and 7000.
Of course, if the bitcoin price takes off, there is a chance this alt will tank with all the others. I suspect the BTC price will drop in the next few days, leaving the door open for a short term rise in alts.
THIS IS NOT FINANCIAL ADVICE. USE THIS INFORMATION TO MAKE YOUR OWN TRADING CHOICES.
Trade active
Entry at 3880Trade closed: stop reached
Stop loss reached. Looks like bitcoin had one more run up its sleeve and this coin was a victim....Note
The cup and handle did complete but the pump was less than expected. As the price rose, I moved my stop loss up to 4000 sat; still kept a small profit!
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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.
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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.