3 month bottom created ready for rise up with bitcoin
The crypto markets have hit a bottom. SC -1.36% is looking particularly well considering my previous analysis on it. I'm still long Sia through 2019 as all the factors in my previous analysis are beginning to positively impact price. Sc -1.36% has been creating a bottom for 3 months now and the trend continues to rise. Now is a good time for entry if you're not in this trade. Again holding Sia for a year. Please look at my previous analysis to see why Sia price will increase over the next year. The biggest reason being that coin emission is getting close to 11%. The high inflation period of this coin is over and most people are still assuming that it has high inflation . Its coin emission drops with every single block created, and this process will bring coin emission down to around 4% at the end of 2019 making it a low inflation coin. I still expect to see Sia at .10 - .30 USD by the end of this year depending on the price of bitcoin 0.30% and the general crypto market. If bitcoin 0.30% goes for a new ATH 0.73% before the end of the year, we'll see Sia hitting .30 with the increased market capitalization.
Comment:
We just hit our first strong signals of trend reversal with SC crossing the 100MA, as well as entering the cloud and the Chikou span finally above our recent prices. If things continue we should be headed towards 140 as our first target.
Trade active:
So far the trade is looking really good. We've pulled back to the .5 fib and recharging for the next leg up.
Trade active:
Comment:
Beautiful flag created before our drive up to the next point. I still see us potentially bounding off 140 which is the old monthly pivot. If we get a strong enough surge we may move straight to TP1.
Comment:
We've dropped to the .768 fib of the previous rise on Sep 23rd as well as the pivot point for support. This represents a great buy area before our continued rise, especially if you're not in this trade yet. The continued bullish trend is still active and given the fork coming up on Oct 31st we should see continued interest and price increase as we compress at these levels.
Comment:
After some signs of strength for SC we've got some consolidation waves. Looking for a breakup now of the upside to take us out of the previous trading range and begin markup.