SCBTC trade ideas
Siacoin SC - Swing Long - "But this time it's different!" $SCSiacoin SC - Swing Long - "But this time it's different!" $SC
Taking a bit of a risk going long on Sia here. Fractal is eerily similar and we seem to be in the same spot as highlighted before. So. Whats different this time? We seem to be finding support on the Senkou cloud as well as the diagonal support like previously. Im also looking at 35 Btc of buy walls (on Binance) before me and my stop.
Buy Zone: 93-96 sats
Stop: 92 sats
Take profit: 128 for ~32%, then 159 & 195 sats
How To Trade Histogram IndicatorsHistograms such as MACD histogram or my Ichimoku histogram give two kind of trading signals.
One is common and is triggered on each price bar. The other happens less often but is extremely powerful.
The common signal is triggered by the slope of the histogram. When the most recent bar is greater than the one before, the slope is bullish. This is saying that bulls have the situation in control and that it is time to buy. When the more recent bar is lower than the one before, the slope is bearish. This shows that bears have control and that it is time to sell. When price action is going in a direction but the histogram in another, it tells us that the trend is losing its strength.
Rule #1
Buy or go long when the histogram stops falling and rise a little. Use a protection stop under last support.
Rule #2
Sell or go short when the histogram stops rising and falls a little. Use a protection stop above last minor resistance.
In lower timeframes, it is not be worth to buy and sell every time the histogram reverses. A change of direction of the histogram incline is much more significant on higher timeframes such as Daily or Weekly.
Rule #3
Bearish divergence: Sell or go short when the histogram is reversing from its second lower high and price is on a new high. Place a protection stop above the new high.
Rule #4
Bullish divergence: Buy or go long when the histogram is starting to reverse from its second higher low and price is on a new bottom. Place a protection stop under the new low.
A trading opportunity to buy in SCBTCTechnical analysis:
. SIACOIN/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00000093 to 0.00000070). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00000093)
Ending of entry zone (0.00000070)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00000108
TP2= @ 0.00000120
TP3= @ 0.00000143
TP4= @ 0.00000157
TP5= @ 0.00000179
TP6= @ 0.00000207
TP7= @ 0.00000239
TP8= @ 0.00000264
TP9= @ 0.00000319
TP10= @ 0.00000393
TP11= @ 0.00000453
TP12= @ 0.00000745
TP13= Free
A trading opportunity to buy in SCBTCTechnical analysis:
. SIACOIN/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00000093 to 0.00000070). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00000093)
Ending of entry zone (0.00000070)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00000108
TP2= @ 0.00000120
TP3= @ 0.00000143
TP4= @ 0.00000157
TP5= @ 0.00000179
TP6= @ 0.00000207
TP7= @ 0.00000239
TP8= @ 0.00000264
TP9= @ 0.00000319
TP10= @ 0.00000393
TP11= @ 0.00000453
TP12= @ 0.00000745
TP13= Free
SC – Sia coin – Hard Fork is coming – profit/loss ratio 963%Hi Guys!
Most of you already have heard about the hard fork of Sia.
We read about that a lot and we think this is a good idea.
To make the long story short.
They produce their own ASICs. They are called Obelisk SC1. They are used to dig Sia coin and maintain the whole network. Everyone can buy them.
However, ASCIs from Bitmain which are also used in Sia network, determine almost 45% of the whole hash power rate. This looks a bit dangerous when taking into account potential growth of dominance of Bitmain and their hardware. Within a weeks/months they could exceed the level of 51% and if they are intentionally very mean, take over the whole network. So (almost) none of the creators want such situation. 51% owned by one company? No way!
So, as a result, they decided to change the algorithm and unable Bitmain and Innosilicoin to operate in Sia’s network.
So within the last couple of days, SC grew over 20% which constitutes the fact the community has taken this information as a good omen.
The hard fork will come into effect by the October 31st. There’s no plan to issue new coin. If somebody will do it, basing on the old network, the new coin might be issued but there are no guarantees that any exchange will support it.
Technical analysis details:
• Very low at the Fibonacci scale (only 70 sat over minimum value)
• Probably double bottom forming
• Ichimoku Cloud - over Tenkansen and the cloud – strong bullish
• MACD – bull’s cross over the level of 0
• Chaikin Money Flow – strong pressure on the price is getting even stronger – take a look at the angles.
Fibonacci targets (this can take a while as those are taking into account whole price span):
Target 1: 0.00000235
Target 2: 0.00000353
Target 3: 0.00000457 (end of double bottom)
Target 4: 0.00000544 (mid-term)
Target 5: 0.00000679 (long-term)
Target 6: 0.00000852 (long-term)
So, as a result, we can lose 70 sat and win 730 sat which makes a great profit/loss ratio at the level of 963%.
So do you think hard fork will have a positive influence into Sia’s future?
Are you hodlers of this project or you just trade?
Massive Hugs!
WBM Team
Siacoin update 04 OctoberSiacoin has been gaining momentum during this week. Volume has increased considerably. Price right now is at 121 sat. I see a small retracement taking place and could continue during today. I see 2 bearish signals what made me close my position at 124 sat.
1) Bearish cross over on the MACD 1 hr -2.46% -2.46% chart.
2) Bearish divergence between price and RSI on the 1hr chart.
I expect a retracement to the 0.5 fib or 0.618 fib levels.
Strong support by the ichimoku cloud at 110 sat and 50MA.
SIA coin going for big gains
SIA coin is coming in lime light due to possible fork on 31st oct 18
The market cap is increased from 226,598,022 to $283,435,928 USD since last four days
Trade Volume is notably increased from 3,324,220 to $19,749,246 USD since last four days and buying volume is dominated
The price is increased from 0.006019 USD TO $0.007680 USD its almost 27.6 percent since last four days
Technical:
The price line was traveling within a triangle since 9 july 18 but today it has broken the resistance successfully and came out of the triangle
A double bottom pattern made and gave push the price line to move above the 50MA
1st weak bullish signal: The moving average 50 came beneath the candles and gave push the price towards 100MA
2nd bullish signal: The moving average 100 has touched the price line soon it will come under the price line and give more push towards 200MA
3rd strong bullish signal: Soon 200MA will come under the candles and it will be a very strong bullish signal
The target price is the tale of triangle which will be 0.00000180 but if 200MA will come under the candles then the price will be unpredictable
Regards,
Atif Akbar