AlanSantana

Siacoin vs Bitcoin Easy Target 115% (Up To 320% Possible)

Long
BITTREX:SCBTC   Siacoin / Bitcoin
Siacoin vs Bitcoin has been bearish since forever.

This pair was added to Bittrex back in May of 2017 and we continue to see lower highs for many years.

There is some hope though, in December 2020 Siacoin bottomed and in May/November this year we have a long-term higher low, giving us the first strong reversal signal.

The next positive signal comes from the RSI above 55 weekly while SCBTC its trading at support. Again, a strong RSI near support we consider an early reversal signal.

The main/easy target is set at the counter-trendline, which is always challenged on a price bounce and it stands at the 30-33 price range or 0.00000030 - 0.00000033.
That is for 100 to 115%.

If instead of just a correction we get a bullish wave then higher prices are possible.
Based on Fibonacci proportions, the next high after 33 satoshis sits about 64 satoshis, giving us a total potential of 320%.

This is a mid- to long-term target.

This is just my opinion, view, analysis of the chart based on my studies and experience... Things can always change.

It has been 600+ days since the last bullish wave.
This pair is due a new bullish wave or a correction in the least based on how the Altcoins market cycles.

Namaste.

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