Short or Long... you decide, but it doesn't look good for SC right now. The red diagonal resistance lines are pushing it into a long term consolidation. I would guess we test that blue diagonal resistance line once more before dropping to level off for a bit prior to a slow bleed back to the mid 50 satoshi mark. This will be the third time something like this plays out if it does. Short now, check back mid summer. Keep in mind that technical analysis aside, a new batch of Bitmain A3's is hitting the market this week and people will want to pay them off asap (i.e. dump everything they mine).
Not investment advice, good luck if you trade this idea.
Not investment advice, good luck if you trade this idea.
Trade active:
150 sats incoming.
Trade active:
Didn't believe me? Looking for a bounce back up to around 180 in the next couple days.
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No bounce yet and 150 doesn't seem to be holding well. looks like the next stop 100 will be around 100.
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bounced up and off the 180 resistance line. hope you lightened your bags. falling back to 150 to test support.
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A little more patience before buying, if you believe history is/will repeating itself.
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I should add that fundamentally, Sia is better than ever. They have ASICs hitting the market from three different company which I view as sign of project validation and they have just announced their video streaming service. That being said, we need to wait for the price to stabilize after this first wave of miners hits the market. Bitmains are out and running, but Halongs are supposed to ship soon, and after that the Obelisks ship. Keep these things in mind if you are trading these markets. (not investment advice, obviously you should be doing your own research).