SKALE - Waiting for an Opportunity

21 Apr 2021

SKLUSD

Been tracking this project for a while now. Its been hammered harder than other small cap alts and admittedly I got in with a position at a higher than optimal price point at around $0.72. Using Binance chart because there's a longer price history.

In the next week, I'm leaning towards another BTC drop to $48-50k in the least with a potential heavier drop to 40k, both cases in which will lead to a drop in alts obviously.

If BTC drops to 40k (200 EMA Daily) I expect SKL to get hit hard and drop to $0.38. If BTC drops to 50k (100 EMA Daily) and bounces from there I would buy in at around $0.50 for SKL. In both cases I'll be watching and buying more and more as it drops.

TPs would be $0.68, $0.83, $1.

22 Apr 2021

Trade aktif

Drop in progress

22 Apr 2021

Catatan

No momentum above $0.60 - bear flag forming

22 Apr 2021

Catatan

BTC about to hit 50k, SKL at $0.50. Not a bad price to get in but I fear BTC will dump to 40k in the next week.

24 Apr 2021

Catatan

BTC's 100 EMA daily and Daily Ichimoku are acting as dual support for BTC. Really expecting a bounce here.

27 Apr 2021

Catatan

Lovely bounce from the buying zone. I'd add another TP at around $0.75. This is where the downtrendline that I drew shows for resistance in the next week and probably have some more short term sellers at that area than other price points. Long term though def expect it to hit $1+ again.

30 Apr 2021

Catatan

hit 0.75 and pulling back. rebuy at 0.62 if it drops that far

3 Mei 2021

Trading ditutup secara manual

Unfortunately it looks like the chart doesn't update that well, maybe because its calced by Tradingview. I will continue my thoughts in a separate idea :)