alanmasters

Siacoin (SC) Hidden Bullish Divergence (35% PP)

BINANCE:SCBTC   Siacoin / Bitcoin
Siacoin’ has been in an uptrend since the 14th August. This is one of those altcoins that did not confirm its low again on September, which signals strength (knowing that most altcoins hit a low on the 14th August followed by another on the 12th September).

On this uptrend, we see the normal wave up and wave down cycles. A peak is reached and then retrace. So after each retrace (wave down), you get another try at the next resistance/target (wave up).

On top of the uptrend you see on the chart above, I've spotted hidden bullish divergence between indicator ( RSI ) and price.

This signal tells us that SCBTC’ will go for its next jump soon. Can retrace a bit further, but then a jump.

Note: Signals can change and be invalidated as new candles are closed. So even though this is a bullish signal, if you trade based on it, you need a trading plan/strategy, preferably using a stop loss. Because the signal can be validated and the price move up, but it can also be negated and the trade can go wrong.

So always trade safe, with lots of patience, with patience we win, because profits is all we want.

Namaste.
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