Syscoin – W Shaped Formation For A Potential Rally

From what it appears Syscoin has formed a W shaped formation or in other terms a double bottom.

Yesterday it broke above the 200 Moving Average and from what it appears could be ready to start gaining upside momentum. In addition, today SYS/BTC rejecting the 200 MA, but this time as a support.

Break above the recent high should trigger a stronger move up, the least of which could be up to our 3rd target – 361.8% Fibonacci Retracement level. That is a potential gain of 100%, but it’s not the fact that Syscoin will stop there.

Of course, this is an optimistic view but supported by technical analysis. Whether it will go up or not will be known shortly.

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