BITTREX:SCUSD   Siacoin / Dollar (calculated by TradingView)
Guys, last one for the night. I REALLY like this one. I may enter this trade soon because I think we may be near done with the consolidation phase. The Daily MACD is still pushing down, but this correction is reaching near the same length as the previous wave 2. I will look for signs of reversal and possibility of a failed breakout. But I think I'm placing priority on this one until I see that it is likely to not take off until a while later.

Entry: Below $0.062
Stop Loss: $0.04 OR on signs of bearish reversal
Target 1: $0.165
Target 2: $0.199

Chance to Gain: 225.11%
Chance to Lose: 34.22%
RR: 6.58

Time-frame: 1-2 weeks or more

So here is another look at this correction. I don't know how much longer it can stay in this wedge, but we also have to be careful of the possibility of that failed breakout. So I'm very close to entering this trade. I'm just staying as patient as can be (and I'm waiting on another trade to go through haha).
Comment: I'm seeing some bearishness on Sia. I will likely wait to see how this plays out to see if I see something that I like before entry. Remember that these are ideas that are likely to cultivate over time, we must adapt to what we're given and never pull the trigger too soon.

So this is what I'm seeing here. Not an unusual correction, but I believe that we are actually in the formation of a cup and handle. And this is what it may look like. It is possible that we correct for the next 1-2 weeks. I will keep my eyes on this one very closely.
Funny how it played out.
@koekto, That's Bitcoin for ya..
I think this is a chart showing bullish patterns....BUT......I do notice a double top forming at the 2 pivot. I guess it depends if the current down trend continues to the previous low or not. Because that will mean the difference between a neutral channel or a bullish channel?

What do you think?
Eball8 PRO derronpocci
@derronpocci, I can agree with that! When I come across patterns like this, typically the best thing I can do is just wait and see what happens. Were in somewhat of an oversold "forgotten" channel right now. Which can be considered neutral. I see this being in a pretty low volume, flat consolidation for a while before it takes off.
+1 Reply
Dude! The wave III is the shortest one at your chart. Something went wrong :(
Eball8 PRO SamSebeSam
@SamSebeSam, Nope. Where do you see that?
@Eball8, First chart. Thin white line and third wave rising from (ii) to (iii) and also measured by the Fibonacci. Did I miss anything?
SamSebeSam SamSebeSam
@SamSebeSam, It's way too short comparing to other waves. Am I wrong?
Eball8 PRO SamSebeSam
@SamSebeSam, Yeah I'm not sure what you're seeing. It's much longer than wave 1. Are you measuring in height? sometimes the width of 1 can make it seem like its longer than 3.
@Eball8, I used ruler over screen. I've got the same problem trying to find correct waves for the Etherium. And looks like the very first wave should be much shorter to confirm the wave rule. But so difficult to find the VERY FIRST departure point for the wave. It bothers me a lot :(
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