SKLUSDT trade ideas
SKLI still think SKL will surprise, I sold at .54c right B4 the crash and had bids at .32c they filled I pocketed the difference and bought the DASH dip as well.
I think SKL will be the next MATIC and leave everyone wishing they never sold. Just gotta be patient with these micro caps IMO.
The MMs r ruthless and because the market is so small the whales can destroy retail.
IMO is keep holding for the upside surprise.
SKLUSDT Possible bullish divergencePossible bullish divergence on the daily, but of course we never know what brother Bitcoin has in mind for us to negate this idea. I take it level by level (fib levels in pink on the right).
First it would be nice to escape to the upside from this falling wedge we're in now.
Bounce or die.Everything that I could have made a bear case for in previous months has been fixed and we are sitting on a major trend line. All signs point up for this project, Skale is even sitting on a major announcement coming in the next week or 2 (probably when their first dApp goes live on their Mainnet).
SKL Forming a "Wedge pattern" A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect a price series's respective highs and lows.
A wedge pattern can signal either bullish or bearish price reversals. In either case, this pattern holds three common characteristics:
-First, the converging trend lines.
-Second, a pattern of declining volume as the price progresses through the pattern.
- Third, a breakout from one of the trend lines.
Falling Wedge
When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines are drawn above the highs and below the lows on the price chart pattern can converge as the price slide loses momentum and buyers step in to slow the rate of decline. Before the lines converge, the price may break out above the upper trend line.
When price breaks the upper trend line, security is expected to reverse and trend higher.
Some studies suggest that a wedge pattern will break out towards a reversal. more often than two-thirds of the time, a falling wedge is a more reliable indicator than a rising wedge.
Bull target - 1.190686. I don't believe SKL is going to beat the ATH in the upcoming weekend or the coming week. But there is potential.
Bear target - The price trend keeps going back and forth for the upcoming week.
RSI - 56.51 Perfect for a good run to the upside.
VOL - Like with all crypto the vol needs to increase. Seeing it spike up recently I think that it needs time to consolidate before a good run to the upside.
DYOR. And please leave a comment or any criticism.
IF YOU'VE LOST CONFIDENCE IN SKL, BEAR WITH IT!Bullishness is still in the air regarding SKL.
This massive descending wedge is still true.
Hodlers will see the fruits of their patience.
Rash and confused investors will pay a heavy price. I won't sell a single SKL coin. It won't be long you'll see why.
1.2 - 1.5 is still my target FOR NOW. I might modify upwards!