Rounded Bottom and Parabolic Curve Theory Idea for $SUSD to BTCThis is a personal research and idea for investment. DYOR and TIT...
This is Synthetix USD $SUSD coin on a 3-day chart.
:::DISCLAIMER:::
This is a mid-term pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
TIME/PRICE PROJECTION
Pattern start: Mid-Dec 2020
Estimated end: 1st week of Late July 2021 (60+ days from publishing)
Price tag at time of publishing: 2,490 satoshi
Expected price tag at end of pattern: 5,550 satoshi
Sub-base 1 (.b1.1): 2,044 satoshi
Base 1 price level: 2,499 satoshi
Base 2 price level: 3,080 satoshi
Base 3 price level: 3,550 satoshi
Base 4 price level: 4,020 satoshi
Safe trailing take profit area: Recommended trailing take profit at 5,300 satoshi
TECH INDICATORS
I'm doing TA on a daily-chart since the 3-day still doesn't display full indicators yet.
Green Kumo cloud indicates bullish trend with recently broken out Chikou Span from PA.
Recent T/K cross up is also bullish. All indicators are upsloped. Parabolic SAR also confirms trend placed below PA.
NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly unaffected by BTC dips.
EXPECTATIONS
I expect swinging PA between bases with increasing impulse moves upward and decreasing ranging movement. PCT states that price of an asset once base 3 is reached can double its price in a very short period. This is not necessarily so in this case, but at least 50% increase is expected.
The distance from the curve makes me believe that we still should expect some ranging consolidation in PA.
FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.
SUSDBTC
SUSD/BTC Risky callPair: SUSD/BTC
Type: Regular
Suggested Buy in: 0.00001800 and under
Suggested Take profit targets:
0.00001980-2100
0.00002100-2200
0.00002200-2400
0.00002400-2600 & above
Aim for at least 1:1 RISK/REWARD
Suggested stop loss: Depending on your risk tolerance. As you can see on the chart above, The bigger dashed line is where SUSD as bottomed out. Placing a stop loss right under that line will put it at -10%
The second option (tighter version) is to put your stop loss right below the dotted trend line. SUSD has been following that trend line very well since bottoming out. However SUSD shown to be extremely volatile very quickly in a matter of seconds as you can see by the large wicks. So while this option is a more conservative approach, there is a chance you'll get stopped out before rallying back up again.
I am not your financial advice. No matter how accurate something can be I always suggest that you do your own research and use your own risk management strategy. Use the above numbers as suggestions and not a rule.
Synthetix sUSD (SUSDBTC) Bittrex New ListingWhy do I get the feeling that this will have some crazy bullish action sometime soon?
Introducing Synths
Synths are tokens that provide exposure to assets such as gold, Bitcoin, U.S. Dollars, TESLA, and AAPL within the Ethereum blockchain.
About sUSD
sUSD (SUSD) is a cryptocurrency token and operates on the Ethereum platform. sUSD has a current supply of 2,665,674 SUSD. The last known price of sUSD is $0.960609 USD and is up 4.89% over the last 24 hours. It is currently trading on 4 active market(s) with $56,534 USD traded over the last 24 hours. More information can be found at www.synthetix.io
This chart does not have enough data but I took a look at it on CoinMarketCap, this is sitting at all-time lows.
It has around 200% profits potential to an all-time high.
Looks like an interesting project.
Thanks a lot for reading.
Namaste.
