Following the previous idea on Syscoin it has in fact started to rise and produce higher highs and higher lows suggesting the continuation of the uptrend. Fibonacci applied to the corrective wave to the corrective wave down after breaking the second descending channel shows that 100% and 127.2% levels were acting as a resistance that has been rejected. And currently, SYS/USD is trading right at the 227.2% level which is also being rejected while acting as a support.
The trend up is very likely to continue and it could move from the current price $0.29 up to $0.53 or $0.60, with the potential gain of over 100%.
Both upside target levels are confirmed by two Fibonacci retracement levels applied to the corrective waves down after first and second descending channel breakouts. Only a break and close below $0.16 could invalidate bullish outlook.
The trend up is very likely to continue and it could move from the current price $0.29 up to $0.53 or $0.60, with the potential gain of over 100%.
Both upside target levels are confirmed by two Fibonacci retracement levels applied to the corrective waves down after first and second descending channel breakouts. Only a break and close below $0.16 could invalidate bullish outlook.
Comment:
Uptrend started
Comment:
Syscoin Getting close to the target
Trade closed: stop reached
Trade closed: target reached
Comment:
Broke above the target, trend will likely continue
Comment:
