Siacoin SC Trading Ideas
Like many other coins ( BTS 8.71% , STRAT, GNT 1.16% ) SIA has bottomed and there is a strong confirmation on the daily and 4H MACD of bullish movement. For the people who have not gotten back into alts yet, this one seems to be fairly low in price compared to BTS 8.71% and STRAT which already made a bigger run up. The correction also consists of a Elliot Tripple Combo wave, which means further dump is very unlikely and things will go up from here.
In the chart I put the longterm support slopes/lines which give both support and resistance when broken. Also, the Q/R/S indicate points where it further dumped and are resistance points, where people will short, so slight corrections will appear at these price points.
SIA is a promising project and has great fundamentals, at the current time of being this looks like an ideal entry point to go long. If the bitcoin bullrun continues to new heights, total marketcap is likely to grow too and could bring strong coins to new ATH's.
Entry: 350-390
TP1: 420
TP2: 530
TP3: 650
Stoploss: 305
For now lets ride the waves, good luck and happy trading! ;)
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