Siacoin Boom-Bust CycleI've noticed that for the past two years in a row, Siacoin sustained a massive 100x rally (priced in USD) during the Spring-Summer months, only to crash and give back a large percentage of the gains during Fall-Winter. Will we see the same type of price action in 2018? It may sound like an outrageous prediction, but that would put our target at 40 cents, temporarily giving Siacoin a huge market cap of over $10B. If the entire crypto market is increasing by many multiples over this time period, perhaps this is possible.
SCUSD trade ideas
Siacoin Bounced Off The SupportSiacoin has rejected the support based on 227.2% Fibonacci retracement applied to the corrective wave after the downtrend trendline breakout. The support at $0.0033 has been respected by the market and after a number of bounces Siacoin went up sharply.
It moved from $0.0033 up to $0.0055 while breaking the downtrend trendline and the 200 Moving Average. Today Siacoin approached the high established on the 9th of November and did reject it. Although it went above the 200 MA once again and stays above.
The uptrend probability is high, especially if Sia manages to break above $0.0055. The first target is 127% Fibonacci applied to the corrective wave after the downtrend trendline breakout. Second target 227.2% and the Final and most important is at 327.2% that is $0.0097. It is the most important as it is based near the $0.01 psychological round number and the current upside wave could very well lead exactly to that target.
On a downside, only a daily close below $0.0033 support would invalidate bullish outlook.
SCUSD $0.008 After Correction? Elliot Wave AnalysisGreen = entry zone, red = sell zone
Preface: I am NOT saying to enter at the time of posting. PLEASE READ.
Explanation on the Fibonacci levels on the graph:
-Wave 2 retraced 78.6% of wave 1, meaning that it is very likely that wave 4 will retrace, at most, 23.6-50%. Since a 50% retracement would put wave 4 below wave 1, I have only put 23.6%.
-Since wave 3 did a nearly perfect 100% extension of wave 1-2, I have set the price target at a 161.8% extension of wave 1-2 on wave 5.
-While RSI is performing well from high to high, it is a rising wedge. It means a short correction term is likely.
If you have any questions or feedback, feel free to leave them in the comments. I have been unable to reply to comments recently due to moderation action, but if I can't respond because of this feel free to PM me.
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SC/USD - Best buy zone for long termI think this is best time for buying Siacoin... For mid and long term trading, or good opportunity to invest your money. Don't forget ! Dont invest more money then you can lose :)
Siacoin has very big potential, so if you want to spend money with brain, this is right crypto for you... Of course it will be a LONG RUN :)
There is beauty beauty in simplicity
All systems go, commence burn.Siacoin is really holding on as long as she can. Whales can't let everyone get in forever. And remember, siacoin was already 350+ satoshis when it landed on Bittrex before the last pump.
Grab a couple hundred thousand siacoin and don't even bother with a stoploss at this point. If it sells down from here it's most likely those that bought in recently and can't wait for it to pump. All the ones who bought the top are most likely already dead.
do your own research before investing but if you plan on investing in crypto currencies other than bitcoin, now is the time.
$SCUSD Forming a Potential Base Price and volume are getting very quiet in the SC/USD currency pair. It looks like all of the hypesters have potentially been shaken out of their positions and we may see some accumulation. The Sia project is still on track and they have a working product.
**Not trading advice, think for yourself.
Falling Wedge, SIA COIN, CRYPTOCURRENCY HOLDERSHere is a falling wedge, for those who don't work with Tech analysis.This is a pattern who is created when Sellers become less and less part of the market so usually the price should brake in a rise.
Also have in mind that it could be a total different outcome, cus anything and anyone cant predict the markets.
My advice is to hold if you have some and buy, or just buy more now cus this will be a great ride on a long-term vision.
Trade on your own and Good luck trading !
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