robertjulius
Long

Siacoin/BTC - still room for growth, good for swinging too.

BITTREX:SCBTC   Siacoin / Bitcoin
Support found at the 0.618.

If we do one more retest of the 15minute 20 or the 0.618 fib, i will move my stop up to the fib and then it should simply continue higher, with stops moving up to the next fib every time it proves as support.

closeup on the 15 minute timeframe:

Above orange is bullish support. Below red i'd say is a reversal and a sell for now, rebuy at the thick Gann-fan             support.

Green is a profit level. So are all the fibs upward.

If we break above green, which is possible, expect it to keep retracing to the 0.618 from every big peak. Definitly expect big resistance at 1000sat - or 1065 as the case may be.

Swinging this for the duration of the uptrend would be very profitable. It should be relatively easy to do too; a buy order at the 0.618 can be filled, but then it can drop down to the 0.236 - which would signal reversal. It will then usually bounce to at least the 0.5 if not back to 0.618 before turning lower - so you can get out cheap.

Good luck in Siacoin, especially to the swingers out there.
Kommentar: The reason i say below red is sell is because it would mean the 0.618 broke. Given we got turned away first at the 0.886 and then at the 0.786, the 0.618 really has to hold - or else we go lower!
Kommentar:
Red line survived. BUT! We are now at resistance relative to the yellow fan zone. So expect it to stall here for a bit.
Kommentar: Full discloser: My stops are 518 but can be moved up to the fib at 535, considering 517 is potential support at the 15-minute 50 moving average.
Kommentar: We made it into the yellow zone :)
Kommentar:
If we get above, next stop 683?
Kommentar: Last update showed a trendline we broke out of.

If we call this breakout wedge consolidation, the target is 964.

Do you think it's a good idea to get in now, or it's too late?
Antworten
Interesting. So where are we now? On the red line? 529-530 sat at bittrex
Antworten
@klimauk, Yeah definitly just above the red, just underneath the 535 fib. I was watching it closely i can tell you!
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