SCBTC trade ideas
SC/BTCPrice is touching the ichimoku span B and I am opening a long (short term) position to see how this bottom of the cloud acts in the next days. If this bottom of the cloud fails as support it might want to push it down all the way to 300 sats and that would be the bottom of playground 2, so in case that happens, I will open another position there. But pretty unlikely to break a daily ichimoku cloud without volatility and fun so I wouldn't think in the 300's that easy. Sia will be nice to trade in upcoming weeks. I believe the 400's will be an important price for future moves. Even if you like the MACD, you can add that indicator too as confirmation to see that is showing a bullish divergence. Yet again, everything could happen with bitcoin and the whole crypto ecosystem bleeding.
Possible SiaCoin Breakout of structure LONG?It seems that SiaCoin may be on the verge of a breakout of major structure on the Daily, as well as a clearly defined Sharkfin and blood in the water on the TDI, which has some broadening of the bands, which suggests possible small move short, before the breakout. Daily Candle on the 2017-07-11 has pinned the Mayo EMA (200 EMA) which could mean we may see a breakout within the next day or two, based on the current structure and price action could fluctuate between support and resistance points before a clear path LONG.
On the 4 hour, there is a possibility that the move we see here is infact an impulse move short, which would be catastrophic to this pair, however I do not believe this is the case, although it is still a probability.
In my opinion, based on the structure of this pair and some fundamentals, I will go LONG, thus purchasing SiaCoins and holding them long term as I see SiaCoins increasing significantly in the next couple of years, if not sooner.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
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The Winter is Cold and Long: The Rise and Fall of SiacoinThis past week or so has sure taught me a few harsh lessons. Due to the instability in BTC it is so hard to predict anything right now. But for what its worth here is what might happen with SC if the downtrend continues.
I still believe in SC, but the winter may be long and very cold.