SCBTC trade ideas
Siacoin - Third pump?Siacoin has been in a pitchfork (log scale) since the first pump starting on May 18. It has formed two pennants since then and the first one broke out very similarly to the initial pump. I'm watching SC closely to see if the pattern will repeat for a third pump.
Entry - 550-650
Target - 750
Good luck!
SCBTC - Is accumulation phase nearing end? Update - LongThis is update to my previous chart with more information regarding the breakout in relation to time.
Looking at past accumulation phases, each phase lasts around 10 days approximately.
After each peak, SC makes a new bottom fluctuating between 0.5 - 0.618 levels . After an accumulation period lasting nearly 10 days, it surges upward to make a new high.
Link to my prev SCBTC chart -
SC time for next step up - Get on the SiaCoin trainI have been comparing ideas and charts and have a good feeling that SC very soon is about to go up another step on the staircase-like pattern it has formed over the last months. It should in theory be a good time to get in now if you dont already own SC. There might be another minor drop or two before it starts to pump upwards. I got in at 0.00000630 and I am hoping/expecting it to reach at least 0.00000830 within the next 24 hours.
Fibonnacci Confluence area @ 609-616
Fibonnaci retracement levels 0.618, 0.5 and 0.382 are clustering between 606-616 satoshis forming a strong area of support with RSI trickling @ 40, which shows that its near of being oversold.
If it breaks this support (which I doubt), we might see it drop at 593-596 before it boosts up.
Like & Follow me for more in-depth technical analysis :)
Siacoin risk of bulltrap from BTCUSDTI'm hoping that SC will repeat its last jump
My only problem is that I missed the last BTC minimum and have to buy in now....
But...
Looking at BTC it's still possible that we get a second correction and I would buy the top so I postponed my buy order for about one day (less profit) to see what BTC will do in the meantime.
Just so you don't get swept away by all the bullish SC charts if BTC goes down in the meantime you may even lose some money.