SCBTC a super bullish setup
Hey friends hope you are well and welcome the new update on Siacoin.
Price action of SC is moving in a down channel on daily chart. And every time after reaching at support it has rallied up to the resistance. At this time priceline is again likely to have bounce from this support and forming double bottom as well.
On daily chart the price action of Sia coin is also crossing up the exponential moving averages with the time period of 10 and 21. Now EMA 10 is moving up to form bull cross with EMA 21 that will be very powerful bullish signal.
On weekly chart the priceline is getting bounced from 50 simple moving averages support. Before this price action was rejected by 100 SMA, therefore it can be expected that after this bullish bounce it can again reach at 100 SMA which is at 0.00000036 btc at the time of writing.
The priceline of Siacoin has formed bullish BAT on the 2-week chart.
The targets as per Fibonacci sequence of BAT are:
Potential reversal or buying zone: 0.00000024 to 0.00000021 btc
Fibonacci projection or sell zone: 0.00000030 to 0.00000039 btc
Conclusion:
The price action of Siacoin has completed harmonic bullish move. The price action also has good supports of 50 simple moving average on weekly chart and EMA 10 and 21 supports on daily chart. The SC is also getting bounced from the support of a down channel on daily chart therefore we can expect a bullish rally soon. However the potential reversal zone of BAT should be used as stop loss. Because if this PRZ level will be broken down then the price action can move more down for the completion of bullish Crab pattern.
Price action of SC is moving in a down channel on daily chart. And every time after reaching at support it has rallied up to the resistance. At this time priceline is again likely to have bounce from this support and forming double bottom as well.
On daily chart the price action of Sia coin is also crossing up the exponential moving averages with the time period of 10 and 21. Now EMA 10 is moving up to form bull cross with EMA 21 that will be very powerful bullish signal.
On weekly chart the priceline is getting bounced from 50 simple moving averages support. Before this price action was rejected by 100 SMA, therefore it can be expected that after this bullish bounce it can again reach at 100 SMA which is at 0.00000036 btc at the time of writing.
The priceline of Siacoin has formed bullish BAT on the 2-week chart.
The targets as per Fibonacci sequence of BAT are:
Potential reversal or buying zone: 0.00000024 to 0.00000021 btc
Fibonacci projection or sell zone: 0.00000030 to 0.00000039 btc
Conclusion:
The price action of Siacoin has completed harmonic bullish move. The price action also has good supports of 50 simple moving average on weekly chart and EMA 10 and 21 supports on daily chart. The SC is also getting bounced from the support of a down channel on daily chart therefore we can expect a bullish rally soon. However the potential reversal zone of BAT should be used as stop loss. Because if this PRZ level will be broken down then the price action can move more down for the completion of bullish Crab pattern.
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