SiaCoin On the move UP, Breakout of structure confirmed
As per my previous analysis here:
Breakout of structure has occurred and it seems that we may be at the start of an Elliott Wave 3 in progress. Price action has not been able to breach the lower major support area and is now bullish in trend. It also seems that a borderline FLAG pattern 'may' be forming, which may also confirm the possibility of an elliott wave 3 impulse count. TDI shows mid-band price action, from a previous sharkfin with blood in the water that may suggest a possible move downward to test the lower support region again, however due to the fact that the slant of the TDI bands is in an upward direction, this possibility is low probability in my opinion.
I shall continue to hold my previous position on the breakout as I believe this coin has huge potential in the crypto market and once 1st August time period has passed, we should see a much clearer view of the market and possible opportunities to purchase more Siacoin.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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I shall continue to hold my previous position on the breakout as I believe this coin has huge potential in the crypto market and once 1st August time period has passed, we should see a much clearer view of the market and possible opportunities to purchase more Siacoin.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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