$SYS, Rumba…
Weekly
Looking at our trend timeframe see SYS continuing to respect it’s downtrend with no signs of reversal. Support has been found at 1400 satoshis, however has failed to break and close above 1650 two times now. Last time price was this low was back in March 2017, where we had a radical run towards the upside.
Daily
Shifting over to our pattern timeframe we see price is stuck in a consolidation zone between 1400 and 1475. Today’s open was 1430, leaving us with a high at 1459 and a low of 1350. A daily close above/below either 1400/1475 indicates the direction of our next leg. Stochastic RSI showing momentum is in favor of bears, expecting price to continue to sell off towards 1200.
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