SIACOIN (SIA) - Analysis (414% POTENTIAL PROFIT)

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.

Target measure sticks.png

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.

Target setting.png

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.

Mid and longterm targets.png

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.

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I might have to buy back in to this one.

I'm loading up!

I like this article. I bought SC at 0.009 and am still hodling. I believe big gains are in the works and cant wait for world wide addoption

Armstrong is taking SIA to the moon for sure!

Why do I always stay up so late when I need to be up in a few hours. Right when I am about to close the laptop and force myself to sleep for 3 hours, you post about potential 400% gains 🤷‍♂️😂

Haha sorry bout that :P

Nice
And a great valuable information

Glad you like it

I have siacoin and I buy at 0.02 cents and sell in a short term trade and hold some of long term trade :-)

I thought about buying Siacoin several weeks. Now is the time?

Yeah imo, in several buy levels

I have never had of siacoin Before
But from the information given I think is good. Thanks for introducing your post

No problem, follow for more analyses :)

I have great hopes for Sia. It` a good project. Mid term target is just good enough for me.