LewisGlasgow
Long

Siacoin - Harmonic Confluence

POLONIEX:SCBTC   Siacoin / Bitcoin
Hello everyone, I hope you all had an excellent trading week!

Today's analysis is a follow up from my successful prediction for Siacoin (chart is shown below) before the minor altcoin crash throughout July.



After reaching 840 we started a steep decline towards the mid 200's.

Now that price has stabilised I'm looking for opportunities to get back in on the long term move.

Price has formed a valid bullish shark pattern and a bullish deep crab , both completing in the same area.

This indicates a move up to 615 in the near future.

I'll be looking out for any analysis that supports or tests my judgement.

Updates to follow! Don't forget to connect with me below.
Comment: Heading for TP 1 @ 475, let's see how price moves over the next 24 hours.
Comment: This is what I see happening with Siacoin right now.



If the support trendline breaks we will see a move down to 250 to re-test the PRZ.

Be careful trading in the run up to August 1st.
Comment: We're currently trading within a tight range of support and resistance, if we break support we'll see a drop to 305, followed by 250 if there is a selling panic where we will re-test the PRZ.



If this does happen I'll be looking to buy SC from here.
Comment: Break of support, now heading for 305.

Comment: About to re-test 250, if we somehow lose support at 250 we'll be heading for 180.
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hello Lewis,
is there any updates for SC
Reply
@ihabhamed, hey not at the moment, price is low, don't see it dropping much further.
Reply
@Andy1, I love Sia but for the purpose of their service the developers want the price to be stable, they want the price to stay low and are implementing strategies to do so: http://www.bostonglobe.com/business/2017/08/07/sia/sUZ0p3EEAsgVuL2aGCeqEJ/story.html

This can change, but right now there is absolutely no reason for it to grow by 800%, well, not short term anyway.

I'd like to see it happen though!
Reply
Andy1 LewisGlasgow
@LewisGlasgow, my guess is after November, which is not bad at all as we have seen a lot high than this, and the most coins are already mines and rewards are reducing..
Reply
Hello
I am trading from the 409 Sc point. Is it possible to raise the price in the future or in the next days if the reverse analysis is possible, it will fall to a lower level, means that it is possible to look at 250 points and continue to fall or climb?
+1 Reply
Do you think we will see anything above 400 sat anytime soon?
Reply
@Chaise, I hope u didn't buy the top
Reply
Good one!
Reply
@Tamadon, thank you!
Reply
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