Siacoin (SC) Longer Term Perspective & How to Execute Profit
SUMMARY
NOTE: I'm trying to meet as many of the analysis requests sent via comments and emails and Skype and Twitter. As always, I'm behind; thanks for your patience.
I've been asked to provide a mid to longer term projection on Siacoin (SC). To begin with, the below chart shows the current microcounts where the circled white impulse waves draw out the initial rise and the abc correction completes the Elliott Wave motive.
From the perspective of a longer term, I've drawn out the intermediate to primary degree of trend waves. I've adjusted the timeline to best approximate. However, when you view this chart, the initial five microwaves were subwaves to the higher degree wave 1 and we are currently in wave 2. Which wave would be next? Wave 3 up with an approximate Fiboacci target of $.29 or so. So, from this perspective, would now be a good time to ladder in a buy? IF there is a lower low, what would that represent? A panic selling opportunity or a buying opportunity? What do you need to buy? CASH! You raise cash during the bull runs; when price goes near vertical periods! This cash is then deployed during the terminal ends of a sizable correction. These longer term targers, are they written in stone? NO! That would require a crystal ball. However, probability of Elliott Waves shows that higher highs are much likely and getting the direction of price correct is more important than target precision. What if you bought at a higher price and have no cash? HODL for Wave 3!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It shoud not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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I appreciate your time and effort to make the posts. Can I make one suggest, it would be helpful if each post had the current price of the coin as well as your projected targets. The graphs are excellent and help me learn but for a quick snapshot, it would be great to have those to prices. All of the best to you!
You do you haejin and take as much time as you need. We appreciate you.
Agreed!
I want to follow up this man's good work with some Fundamental Analysis for the community to bare in mind. Filecoin, who raised +250 million and was backed by Y combinator amongst many other noteworthy VC's, will be releasing very soon. Siacoin community has complained about the product to date from Sia. Sia does have some updates coming no later than 3/31 (end of Q1). I know our guy is a TA mastermind but I figured I'd throw this info in to help anyone on the fence and or looking for catalysts to buy/sell and/or trade.
haejin TA is like this pile of poo!!
Your analysis is very good. I look at many of them in making decisions about buying and selling crypto.
Thanks for the analysis. I have upvoted you. Please return the favor. Thank you.
What you missed, Mr. Haejin, is that you never forewarned traders about any of this correction, or using this "raise[ed] cash" would have been much easier. Not a big deal, a hard one to call for sure, but you make it sound like anyone who was following you should have had this "Cash" handy, and that is being glib, and little insulting to anyone who was new to this (most of your followers, I imagine) and had never been through a correction before. I certainly don't remember reading about it during the last bull run. Thankfully there were others that sounded the alarm.
Anyway, to my main point, you previously said that wave 1 would take SIA to around 275, then back down to 175 or so, and by all intensive purposes, that happened. Wave three (as per your post) then hit at 675 satoshi or so, then anyone holding for your wave 5 target would see their "cash" disappear without warning when market corrected well below your 575 target.
Agree. Thank you for your insight on this. I was thinking the same.
Thanks for your analysis.
Could you please get back to Coin vs BTC please ?
Coin vs Dollar is completely meaningless, as it is mainly tied to the price of BTC itself.
When altcoins are traded, they are mostly against BTC, so that's where the analysis is really relevant.
We can all assume that most altcoins are going to rise in USD if BTC itself is rising.
The real "index" currency for altcoins is BTC, not USD.
Cheers.
So you're expecting x10 within 6 months?
That would be sweeeeeet
good post
분석 감사합니다.