Today we have an excellent buying opportunity for SYS/BTC on the 4h chart with a bullish 5-0 pattern, I'm absolutely loving the look of this setup already!
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
The B point forming at a solid 1.272 adds to the structure of this pattern.
At this current moment in time we are yet to complete the C leg at the minimum 1.618, I have highlighted the two most favourable outcomes if this pattern takes shape.
1. Price will reverse at 7750, therefore, forming a valid C point at the minimum 1.618 before completing the pattern at 5000 and providing an opportunity to go long.
2. Price will reverse at 9900, therefore, forming a valid C point at the maximum 2.24 before completing the pattern at 6075 and providing an opportunity to go long.
No matter where the D point forms (as long as it's a valid pattern) your final take profit will be the same price level as C, unless you use this as an opportunity to buy low and hold.
I will not be buying until the pattern completes! Once we have a C point locked-in I will update the idea on TradingView :)
I hope you all have a great weekend when it comes.
Click here to view my original post on TradingView.
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Good points in this post. Thanks for bringing this to our attention. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. This is quite an interesting website I found: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. Go to: https://www.coincheckup.com/coins/SysCoin#analysis For the SysCoin Analysis