scooty94

SC Possibly entering Elliot Wave 2 of 5

Long
BITTREX:SCBTC   Siacoin / Bitcoin
If price hits the 786 fib then that would increase confirmation that this is the start of an elliott wave sequence
Comment: I've just realized I can't edit these charts, so wave 5 is a bit off in the fact that does not allow for enough time (should be more to the right than it actually is) but the target is still the same.
Comment: This still looks to be on track although it bounced off the 618 fib rather than the 786.

Comments

It will most likely be over 500, the question is how long will it take to get there. First the market cap of SIA have to increase to the value it had when it was previously at 500. Than, keep in mind that SC is used for SIA service, so we have a cap in price for the service itself. For that reason we have to look at competitors as well. Amazon sells the same product that SIA sells. Amazon sells it for 25 USD where SIA sells it for 2 USD. Given that BTC is going up as well, SC will have to go up prior to BTC bull run to 10k otherwise it will find itself in the corner.
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Do you think now is a good time to buy? Would you bet that by the end of the year Siacoin will at some point get the 500?
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kareth filippemc
@filippemc, yes
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I've just realized I can't edit these charts, so wave 5 is a bit off in the fact that does not allow for enough time (should be more to the right than it actually is) but the target is still the same.
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I'll be updating this chart one wave 3 has completed to get a better indication of where waves 4 and 5 will end up
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