SCBTC
$SC Siacoin RoadmapSiacoin is another fantastic crypto that has gotten caught up in the FUD surrounding BTC and ETH.What business does it have at the current price? Remember, a LOT of people made a LOT of profits recently, and it is natural for them to take it. You need retracements to catalyze long term growth -- that is just how it is... think about how you must cut your hair for it to grow longer.
$SC needs to break this descending wedge it has currently. Also, the Long-Term STEADY Growth Line is looking for a challenge, which it will get soon. In case of breakout, the purple lines are your roadmap for resistances. If SC breaks the big red Bottom support line, watch out. That is its critical support area. Without it, say hello to the 420's and below (yikes!) -- $DGB anyone?
As is the case with $BTS currently, use very strict stops right now. Do NOT trade without them. They keep you in the game. I personally, would wait for confirmation of breaking the first purple resistance line. If that happens with volume, I would go long immediately. That is just me. Define and plan your trades and use your stops! Good Luck peeps!
Sia Coin has plenty of room to grow.Buy and hold is the name of the game. Based on the daily, I expect a small downtrend to form. As the dollar rises for the short term, I expect this downtrend to coincide with the movement. when the dollar begins to fall again and for the long term, at last, I expect this currency to rise in conjunction. The levels identified are likely to become areas for reversal in trend, and the final touches to those areas may happen in the coming weeks.
SIA Moon Phases patternNow THIS is Technical Analysis shitposting. In all seriousness though, SC is showing a corroborative trend with the moon phases. Using the bars from the two previous moon phases SC is showing that it might bounce between the two higher Fibs by the midpoint between the last new moon and the next full moon. Astrologically fuelled BS or something to pay attention to?
SCBTC Long, breakout imminent. SIACOINSIA has been in a strong upward channel. The recent market crash correction fell 36% to 307, and recovered up to the 620 area quickly. The price has found support in the channel boundary as well as previous areas of support.
MACD & volume indicators are in agreement.
Buy zones:
580
627
Sell Zones:
690
810
Stop loss:
518
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- Tenjin Crypto
@Tenjin_Crypto
As always, do not overextend on a position. Hold with 70% of portfolio and trade with 30% or less depending on your risk model.
Set alerts on blockfolio or whatever alert software you use for either sell areas or stop losses.
SCBTC (SIACOIN) -- Channel bounce in effect?SC just recently tested ATH's. With alts currently in a slight dip due to BTC, now could be the time to get a potential mover at a discount with pretty strong support. Can pick up the coin now with a close stop under the red macro line, or underneath the VPVR & level at 550~. A 50%/50% method is generally preferred, but a 33%/33%/33% position for an early/trend/box opener is reasonable to. The risk is moderately low here assuming BTC continues to remain mostly flat.
Three scenarios for SCSC has been rising in a nice channel for a while. I have outlined three possible scenarios in the coming weeks.
1. SC continues in the wedge and breaks out.
2. SC fails to break out of the wedge and instead falls back to the upwards channel pattern.
3. SC fails to break out and then falls out of the channel back to previous support lines.
I believe that scenario 2 is the most likely. As usual, buy low sell high!
Thanks to Maximilian108 for the heads up on this Wedge.
New Buy Zone for SCI have discussed previously a buy entry and a sell one two weeks ago. If you had followed my strategy you should have sold now 30%-70% of your cap with a nice profit. However I was hoping for a better top because of all the good buy signals (good fundamental, big accumulations in 2 weeks). The fact that the bull move have stopped at 830 sat was due to some news. Here's a summery:
Sia has leaked Saturday that a project called Obelisk will be published the next Friday. This had pushed up the price in the weekend but rumors were saying that it will be some easy platform for file sharing
Once the price hit new all time high, Sia send a tweet giving more informations about Obelisk in Tuesday:https://twitter.com/SiaTechHQ/status/877172219679563778 This had as effect to stop the bullish move and I think they knew that. My opinion is they were afraid that not correcting the rumors will result to a crash (and not just a correction) this Friday.
Sia published officially the website of Obelisk and how to purchase it: twitter.com
Now what's next?
Sia is obviously very dynamic and their project starts to be more credible and reliable. Is it bad to have Asic in the network? Sia had respond to this question in their blog explaining why they had initiated Asic Mining : blog.sia.tech So fundamentals says that Sia is a strong buy.
Technicals:
The new high had made a new buy zone (668 sat – 632 sat). I recommend to not risk waiting for price after 652 sat.
The sell strategy will be the same as previous one but with the new following prices:
At 891 sat, you should have sold 30% of your capital
At 918 sat, you should have sold 80% of your capital
At 956 sat, you should have sold 90% of your capital
The remaining 10%, you can sold it anywhere above 956 sat or hold it.
SIA Cloud breakout-breakinLike a thief coming back for more, SIA has broken out of the cloud and must break back in again to get the goodies stashed away in the 700 range. With the breakout at the bottom just occuring as well as being near the bottom of the pitchfork support and RSI being historically low, this might be a good entry to make some good gains in the next few days.
Ready for liftoff/possible entry point(s)This IS a bearish 3rd dive pattern however the ASIC Miner/obelisk announcement is a big step imo and im loving SC as a long-term hold being one of the few coins with a working product. Looking at a couple entry points along the pitchfork which may prove fruitful for the next leg up
Depending what eth/btc do tomorrow will determine which support line this bounces off of..as of writing there is a lot of red