Siacoin / Bitcoin
0.0000000282BTCR
+0.0000000005+1.81%
As of today at 05:16 GMT
BTC
No trades
SCBTC trade ideas
SCBTC Setting up for big moveSC is looking like it will be juicy buy soon, we should be in a phase where the bears are exhausted however the sine lines indicate that there may be one last dip before the bulls return.
Disclaimers, not intended to be financial advise, not an expert.
I'm not holding any sc at the moment, will wait for clear reversal pattern before entering.
Biffy.
Thoughts out loud. On the 6&8 hours we've leaped above the 200 EMA. We are looking to see confirmation on the 12 hr as well. Anyone else find it funny that Bitmain built a specialized Miner to mine a coin under a Cent. The Team is considering a fork off of Asic mining but this may effect their Buyout position. Curious to see who is hosting this cloud blockchain in the future, NASDAQ:AMZN ?
SC vs. Bitcoin#SC buy small near 100-94 or buy breakout of orange line and MA100
Mid term investment:
Target zones
Take Partially at 113
Target 1: 124
Target 2: 136
Target 1: 154
Stop loss closing daily under 92
Rebuy located at 88-85-82, global stop loss under 70
RSI: ok
Moving Averages: Price above MA30 and MA50, so now they acting like support lines
PS: SC = Shit Coin
Siacoin SC updateHi all, thanks for viewing.
I thought I would post again update my previous post prediction SC will reach support at 0.0000077. That target was slightly overshot but held and we saw a reassuring impulse wave up. That small impulse wave is about to correct now due to:
- Long upside wick indicating rejection of the bears / profit taking.
- Wave 3 isn't the shortest - it met an almost exact 1:1 extension of wave 1.
- Wave 5 exceeded the 1.618 wave 1 extension (which is a normal fib extension target - so it wasn't truncated (which would indicate weakness). It was actually the strongest of the 3 waves up).
- BTC is also about IMHO about to correct ~ 5 - 10% before starting on a bull run (yes it is annoying when BTC is showing bullishness and alts drop and they also drop when BTC corrects. But the good news is they are much closer to being in phase recently).
Caution: There was a small incursion of wave 4 wicks into the wave 1 territory on the 60 minute chart. I will accept that and don't believe that invalidates the impulse move as the incursion wasn't significant and was only short-lived.
I can't give you a prediction on how deep the correction in SC will be - I suspect it will not be a deep correction and also I feel that this support will hold. In this post I put the retracement at 0.618 of the impulse move - which is purely speculative at this stage. If this small impulse wave turns out to be wave 1 in a new larger-degree impulse wave, then 0.00000113+ for wave 3 and 0.00000133 (+40%) is a reasonable target for the end of the impulse wave (without extensions) over the next couple of weeks.
I hold (not a large amount) of SC and also mine SC (I don't liquidate my SC in order to pay mining costs but instead add to my holdings) and am medium term to long term bullish on SC because, is one of the few coins with revenue, and has solid use case (it has a chance to the disrupt cloud computing industry). Because of this I don't trade SC speculatively.
