Nice setup on a long forgotten coin $SLS

in #cryptocurrency2 years ago

Hello charters!

Today I was looking at $SLS on Bittrex.
It drew my atention as it has a massive raly in 17' & 18' and has since retraced almost to it's all time low price.
With the drop near the all time lows came some higher volume buys and spikes in price.
Since has come a consolidation of the price and hence me posting this chart in expectance of a move, which i expect to be soon.

slslow.png
https://www.tradingview.com/x/9RwQbBiC/

Marked 2 resistance lines and pulled a fib.
The lower line on 100k satoshi does corelate with the 0.786 fib quite closely so that will be deftinitly the target which I'm most confident in this time.
Up higher we have the resistance on 150k satoshi, my ultimate exit for this short term trade.

To give a bit better view on how those 2 resistance lines were used in the past and why i chose them over fib lines in this case:

slshigh.png
https://www.tradingview.com/x/ZRENcEJu/

To give a bit better view on how those 2 resistance lines were used in the past and why i chose them over fib lines in this case
I zoomed the daily chart out.
Wanted to keep it on the daily not weekly so its easier to see how many times the price used those particular levels to play out an reversal.

Let me know what you guys think about SLS and where you see the price going in the future!

This post is NOT financial advice or any kind of recomandation, nor am I lisenced to give one!
It is my personal opinion and view on the chart!

Enjoy the day and good luck in the markets!
Kind regards, OZ