GET READY to double your Bitcoin on Syscoin as it BOOMS another +100% through February!
The Anderson Report
Next week the altcoin market will resume making gains against Bitcoin after a pullback that has been in progress for the better part of a week now. Be sure to see my other reports from earlier this week if you're interested in Steem, Bitshares, or Expanse. All of these coins still have some incredible gains left in them before the end of this current altcoin bull-cycle.
In the chart below, its clear that SYS is moving in a familiar fractal pattern that is similar to the prior bull run back in spring of 2017. Both troughs are at the same angle, with price movement within the trend lines conforming to prior price action expectations. The price has held its own above the ichimoku cloud since the beginning of December and will continue up in this path until the end of February, with overshoot expected on or around Feb. 22nd.
Above, RSI continues to push upward with a cup & handle projection that coincides with expections of a strong +100% push. Intense buying has pushed the Bittrex's SYS On-Balance Volume to record heights; there is little evidence that holders want to sell at the current price levels around 6000 sats. Momentum, shown on the bottom above, is unclamped in the positive direction, very bullish.
Profit Maximization Strategies
Entry:
Long term investors who've been holding should simply continue to do so. Traders looking to scalp a quick 100% off this market should look for entry on a dip and avoid market buys at these heights. Placing buys at retrace points below the current price where others would place stop-sells often times will give serious contrarian gains.
Target & Exit:
Sells should be set around the 11k-12k satoshi level in order to maximize profits as the price overshoots the trend line before wicking back below it. This move will end at in last week of February giving a daily expected gain average (DEGA) ranging between 2.2 and 2.9%.
A full entry and exit within this timeframe will approximately double BTC placed in this position; many opt to only sell half of the positon on a double of value, freeing the original capital for other investments while maintaining the core position for the future.
As always friends, do your own research, balance your portfolio, practice tight risk management; and all time frames are an estimation, +/- a few days is realistic.
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