The SC/BTC hourly chart looks very bullish. Price broke up of the Ichimoku Cloud, after a period of inactivity and sideways movement.
The MACD looks like it is going above zero and thus, bullish.
Also the RSI shows building up of momentum, although it is currently in an overbought state.
This does not mean that the price will go down, it simply means that the move could be very strong, but there may be a small correction that allows to buy in.
I think the price will briefly stop at around 70 satoshi, building a bullish flag, before going up, because this level is both an even round number and the 32.2% Fib. retracement of the previous run.
Notice the similarities between this move and the move that happened in the first days of this month. I think we will probably revisit the previous high at around 115, but a more conservative target could be 100 satoshi. Stop-losses, if entering now, should be placed at around 51 satoshi. This is not financial advice, this is just my opinion. Any comment is appreciated.
The MACD looks like it is going above zero and thus, bullish.
Also the RSI shows building up of momentum, although it is currently in an overbought state.
This does not mean that the price will go down, it simply means that the move could be very strong, but there may be a small correction that allows to buy in.
I think the price will briefly stop at around 70 satoshi, building a bullish flag, before going up, because this level is both an even round number and the 32.2% Fib. retracement of the previous run.
Notice the similarities between this move and the move that happened in the first days of this month. I think we will probably revisit the previous high at around 115, but a more conservative target could be 100 satoshi. Stop-losses, if entering now, should be placed at around 51 satoshi. This is not financial advice, this is just my opinion. Any comment is appreciated.
Trade closed: target reached
Target of 100 was reached.Trade closed: target reached
Siacoin has been killing it! The 161.8% Fib. extension at 156 has been hit!!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.