Siacoin -- Possible Bullish Flag Breakout

BITTREX:SCUSD   Siacoin / US Dollar
141 6
Sia is a serious contender in the space of decentralized storage.
Kommentar: Lift off
Still worth trying to jump on this rocket??? Thanks :)

I would be patient and wait to see how it plays out.. as in wait at least to see another several hour consolidation within this breakout. Unless you are willing to tolerate a higher risk.. volatility is very high to make a confident trade at this moment in my opinion.

Possibly, look for a buy around the 0.053 - 0.0545 area.

You can see that the second consolidation/accumulation period of this breakout checked back to the top of the first consolidation/accumulation period.. if that makes sense. It went up to 0.053 but found hard support at 0.0445. So I'd expect something similar to occur.

But please do not rely solely on my advice. I'm very new to this.

+1 Antworten
davishen davishen
@jkw , Also look at the volume. Each jump up within the breakout has attracted more volume. Only looking at that, I'd say it does have more room to run
+1 Antworten
jkw davishen
@davishen, Thank you for your detailed reply. Much appreciated :) One other question: can you still apply the BTC pairing to a coin if you're trading it in USD? Does the volume movement still relatively apply? I know the exact profits will be different, but surely the amount being traded is the same so similar outcome can be forecasted?? Thanks :)
@jkw, I think I had the exact same thought when starting out.

Yes, I believe it would. Volume rules everything.. it is the level of demand whether that be selling off or strong buying. The outcome will also have a strong correlation to volume

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