Syscoin (SYS) Could Target a Lower Low
The breakout or rally that is expected throughout Cryptosphere given the similarity of pattern, MACD and Elliott Waves could provide nice returns through June. However, I expect another sizable (50%?) correction come July/early August. So, take your profits when they are staring at your eyeballs!
The below chart of Syscoin is pretty complex in its correction. The earlier Cup & Handle pattern playedout but given the current labelings of the correction as wxyxz (blue), a lower low is expected.
The subwaves of the blue Z wave shows the red abc. The B wave could enable the rise towards June, potentially and the subsequent drop towards a lowere low of c of Z could be the correction.
Meanwhile, the whole correction could fit into a larger symmetrical triangle pattern of consolidation at a higher degree of trend:
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