If you believe . . .
If you believe that quality crypto is in a huge long term bull market, wouldn’t this be an ideal time to buy Syscoin?
Syscoin may well be experiencing a classic “buy spike” situated at the end of a countertrend correction within a much larger uptrend. Actually a sell spike in character, it is referred to as a buy spike since it is often the last good buying opportunity to be seen. Syscoin is down around sustainable, long term support with long term momentum at its back, and selling pressure waning. The setup is there, and, yes, it could fail and go to zero, but since I think the odds are against that, and that the long term bull is gigantic, I’ll stick with my SYS. 😃
Read the "The Dos and Don’ts" here if you're not aware of my rules.
Its looking good for a flight to the moon, especially on the MACD, getting ready to go up!
Go down to zero, i love people that have those predictions, "BITCOIN WILL GO DOWN TO 0!" in 10 years those guys will be laughed at like the people who said the internet was useless, the people that said horses where better than cars and those who choose the betamax over the VHS :^)
It might happen even sooner than that. 😎
Hopefully :-D
Preach❤🤙
@cryptographic,
Like you said few weeks ago: If Sys planning to come with masternode concept, this might be a great opportunity to buy then in such lower prices! And it will not be at this low again!
I will probably go for it! Thank you!
Cheers~
More on their plans here: https://medium.com/@BlockchainFoundry
This chart looks very similar to overall crypto market. I can see right shoulder formation. I would love to see nice long green candle with high volume. MACD is very tight, which could be sign for a bigger move. Even though SYS is below MA’s, the support below is much stronger in my opinion. Overall, it’s still nice breakout of downtrend we had recently. Nice consolidation! I hope this reversed H&S will eventually get confirmed by upside breakout. Whenever that happens Im being patient and accumulating at any dip. We as well can get a failed breakout, which could shake out many weak hands and that’s what the smart guys (big money) are wishing for. They definitely won’t shake me up. I have learned my lesson many times before already and won’t make that mistake anymore. Every penny I invested I can afford to loose. This gives me confidence not to panic. But that’s not going to happen. As you mentioned “the odds are against that,...”.
Subscribing to best practice risk management has made all the difference for me too.
Would love to see a bear trap shakeout to culminate things too! From a technical standpoint more than anything. There's nothing better than a head fake continuation that ends in violent reversal!
Your chart is clearly showing huge support (the green line). This could as well mean SYS may go a bit lower. If that happens and then bounces of this line with high volume, it would be extremely bullish. I will be watching SYS and overall crypto very closely. I’m fully invested right now, but if we get this beautiful buy signal, I would definately be able to get some extra capital to take advantage of it. Bitcoin had a chance to break below 7k, didn’t happen. This could mean it’s consolidating right now and perhaps getting ready for another upside move.
7k is looking good. I suspect that a lot of eyes are fixed on that level.
“It resonates with us when a client says ‘I want to hold Bitcoin'because I think it is an alternate store of value’” Rana Yared, Goldman Sachs executive. Often for new investors it is difficult to keep their eye on the prize. This is where greed and fear often prevent someone from being in the market when larger moves happen.
Well within an hour after posting the article yesterday, bitcoin' was at 7500 or a 5% move from 7114 at the time I hit post. Market sentiment changes on a dime and without warning. Imagine the move that happens, in a short period of time when, Wall Street enters the market with ETF's, ETN's or other products that allow for trading of the main street investor.
Well how do you want to be positioned when wall street comes in? Do you think you are going to catch that spike? Goldman obviously is positioning themselves for entry into the space and these are not "whales", they are megaladons! I believe the initial spike is going to be a major one, and there will be some signals before, but if you are scared, and hesitating, or believing you are going to pick up bitcoin 2.31% at 3k, well GOOD LUCK! Your simply selling into the banks and institutions that are slowly accumulating under your nose.
I couldn't agree more. It's been said before countless times that there's a wall of money coming at crypto - I first wrote about it over 2 years ago around the time when Blythe Masters got seriously interested. The 2016 spring rally was where I first saw what I considered to be "big" money getting involved. Professional involvement kept increasing in line with price last year, and I only see this trend getting stronger and stronger. 2 years ago we were still talking about the need for mass adoption. Today we're seeing it happen. And we've still only just got going!
I love your crystal clear view on the market @cryptographic.
What I don't like @smithandy is that you copy blindly and without reference from https://www.tradingview.com/chart/BTCUSD/Vph5X0NS-BTC-Don-t-Miss-the-Forest-for-The-trees/
Thank you for pointing that out. It's much appreciated.
There is no talk about copyrighted content here. I like trading, and I expect proper feedback from Sir about this trading.
Thank you very much for your valuable feedback, so it will help me in front of trading.
From now on, when I do trading and analyzing, these things will definitely help me a lot.
This asset is a great example of a quality project with good potential for positive price action. First, as you state in your technical analysis, it seems as it is very close to a confirmation of the reversal in price action to the positive side. The only factor I would say you should consider is that volumes should be better when breaking the trend. In addition, the fundamentals look good as it actually has a working product. As more companies look to leverage the power of blockchain applications and technology, they will seek projects like Syscoin that have solutions in place for their needs. This will increase adoption and thus the value of the protocol.
No doubt in my mind that the big winners will be those who beside offering a secure and safe storage of value and means of exchange also offer real life solutions that improve our lives. It's like having your cake and eating it too: a store of value that is a thriving business too!
Would many be put off by the thought that it's too good to be true?
They may be put off due to their own ignorance of the technology and how it can be achieved via the blockchain. The transition from managed 3rd party services to decentralized services will take time as it is understood.
No doubt about it. It all comes down to not fully understanding what we've got between our hands. By the time it is fully understood on a wide scale, everything will be fully valued.
Great to see some positivity in this current market! So many people are running for the hills and yelling about Bitcoin going to $2k again.
Been following Syscoin for a while but haven’t pulled the trigger, now might be the time to jump in!
In one year’s time I’m sure this will all be behind us and we’ll be crying about why we didn’t buy more at these prices.
You're probably right on all counts, or at least I think so.
It's weird how similar the charts for most of the crypto's are looking these days. Bitcoin being the leader is no exception.
I actually enjoy the way suddenly all that bitcoin is a bubble talk has disappeared. Wait till the next bull run for the cretins to crawl out from their rocks to start calling crypto a scam.
No matter what I am in for the long haul. Unfortunately I have no money left buy or add a new coin to my portfolio but I guy can enjoy the charts, can't he :-)
I'm with you there on the long haul, and being completely positioned as well.
Man you always reply back :-) ....... really appreciate hearing from you.
I think the idea of crypto might be old news to us, but truthfully we are all early investors and in the end that's going to make all the difference.
If people only looking at the ups and downs on coinmarketcap and decide whether syscoin is great for investment, I guess these are the 'blow wind blow' people where they move whichever direction that the wind blow without doing much research. I am quite sure @cryptographic has taken a good look at their business plan and the use of syscoin to see the potential of it. Buying syscoin as a long term investment because of their good business model rather than buying and selling like short term stock trading for high risk takers.
Yeah, my best advice, if I were giving advice, is to stay away from short term trading unless you're a professional, or just as good as a professional.
I do believe that it is a good project @cryptographic . Since the first time you mentioned it I made a little research and I believe it has great potential. As you know I am a little cautious with coins that their supply is close to 1bil. 13 months back....and its value was 0.01$... I wish I was smart enough then.
It's not the only one of my favorites with high supply. Cardano has a total eventual supply of 45 billion.