Will Sia Fly Up To The Clouds?

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Sia is a big and ambitious project that aspires to compete with other cloud sharing services like Dropbox, Amazon etc. By using blockchain technology, Sia allows users to share their hard drives in an encrypted and safe way. This will supposedly bring down the costs per gb to a fraction of what the current market leaders can offer. I love big projects like this and I'm gonna keep an eye on it. While analysing the charts, I spotted some bullish indications which I will share with you here. I hope my explanation and thought process makes sense. If not, please comment below and I'll be happy to answer your questions.

1. Setting Targets

I start off my analysis with drawing patterns and in this case I find two wedges. One big and one small. The height of the beginning of the wedge often determines the target of the next price jump. I draw a measure stick and then place at the end of the wedge (right side). The first measure stick almost predicted a correct impulse, but missed with 20% or so. Now the next stick i measured have not happened yet. We are in the end of a correction and as soon as we start an impulse, we can expect a price jump that would be the same height as the previous stick.

2. Elliot Wave Counting

Now that we know the height of the next impulse, we can divide that into 3 Elliot waves. The basic guidelines for Elliot Waves principle are:

• 1st wave is usually equal to the 5th
• 2nd wave usually corrects 50%
• 3rd wave is usually 1.618 to 2.618 of wave 1
• 3rd wave cannot be the shortest
• 4th wave cannot go below wave 1 and usually corrects around 38%
• 5th wave is equal to 1st wave or could be extended too.

Larger perspective

All Elliot waves forms into subwaves of a bigger picture. The picture below is showing how we've completed a 1st and 2nd wave and are about to enter the 3rd impulse wave which has 5 subwaves that we've drawn out.

Investment summary:
⭐⭐⭐⭐ ⭐ 5 out of 5 stars on this investment

🤑 Mid Term Target at 0.00001610 BTC
💲 Potential profit 351%!

🚀 Long Term Target at 0.00001835 BTC
💲 Potential profit 414%!

I hope you guys like the content I'm putting out. I want to evolve and would like to know if there's anything I can do better to serve you. Any suggestions on coins or more fundamental analyses? I wanna hear your thoughts steemians!

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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.