Siacoin SCBTC - Accumulation phase - Bullish Wedge
Updated
I have outlined how siacoin periodicaly goes into accumulation phases forming a wedge pattern before another bull run.
Key point is during accumulation phase it remains within the RSI green rectangle zone. Once it breaks on the upside, you are sure that accumulation phase has ended.
A good buying point is that it dips to 0.5 to 0.618 levels after a bullish run, that is a good point to grab more siacoins.
It hasn't touched the lower most part of the shaded "green zone" yet, if it does then that would be an excellent buying point.
Expect a short dip in this accumulation phase before it goes long
Key point is during accumulation phase it remains within the RSI green rectangle zone. Once it breaks on the upside, you are sure that accumulation phase has ended.
A good buying point is that it dips to 0.5 to 0.618 levels after a bullish run, that is a good point to grab more siacoins.
It hasn't touched the lower most part of the shaded "green zone" yet, if it does then that would be an excellent buying point.
Expect a short dip in this accumulation phase before it goes long
Trade active
SC is still in accumulation phase.SC can dip more and present good buying opportunities.RSI is at 48% now on 4hrs timeframe, still hasn't touched the bottom of the shaded green zone.
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SC came close to breaking out but according to my chart it didn't breakout. RSI at 4 hrs still remain within the green zone. Accumulation phase is still on.Trade active
Updated new chart
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