POLONIEX:SCUSD   Siacoin / US Dollar (calculated by TradingView)
Siacoin has been on a steady rise since november however it hits a high two days ago (what could be the reason for this?) $0.071055 and retraced to as low as $0.0415 where a new support is trying to form but it is not confirmed yet,the hourly technical indicator still showing downward trend to the next support line now at $0.0367 where if successfully breached can still take the pair lower to $0.0233.If the price fails to break the support line at $0.0367 we can expect the upward trend to resume back to our previous high or even surpass it.
I will buy the dip at support line($0.0367) and set take profit at previous high 0f $0.0711 or if i want to go really long i will hodl till it forms a new high anticipating somewhere around $0.0787 - $0.083 with stop loss at the next support line of $0.0230 below the 200EMA on the 4hour chart.


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