Siacoin (SC) Needs a Breakout to Continue Higher

in #siacoin7 years ago

SUMMARY

Siacoin (SC) had previously corrected thorugh a very long and drawn out a,b,c correction. The right side of the Cup & Handle peaked and correction is now in progress.

The below chart shows that price needs to break out of the chanel. IF the a,b,c correction is complete, then the breach of the upper blue line would allow price to continue and put in the initial impulse that could signal a turn.

The alternate scenario stands if Bitcoin makes a lower low and likely, the whole Cryptosphere will follow this direction. Would it be the end of the world? NO! A buying opportunity! The white wxy for a,b,c is shown with red C wave at the level of the next support.

In not forgetting the Hurry Up & Wait syndrome of Altcoins, the below would allow Siacoin to take all the time it needs to meet and live up to that. IF this is the case, the longer, drawn out correction could test anyone's patience, except those who are already well aware of this scenario. What to do? Cast attractive buy ladders.

Legal Disclaimer: 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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf

Sort:  

Good information and interesting, you always do something new and this is very interesting, thank you for sharing for all of us.

Hey ass hole come and suck my hairy balls 🎾

And don’t forget to bring your mama and dada, you all love a good spunk swallow

Poo Poo on you!

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

해진님 안녕하세요?
항상 감사합니다 오늘도 행복한 하루되세요

 7 years ago  Reveal Comment

Good

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

great information thank you for sharing.

as Always Haejin!!Great Analysis! I Hope my patience will last before my pocket breaks. @haejin Thank you!!

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

Thanks for the update

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

Thank you sir Haejin !!

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

Muchas gracias por compartir tus análisis

It's probably going to do better once this soft fork drama is over with. You have heard about it, right?

Another good analysis for the day 👍🏼

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

I saw both experts, too. Btw, quality content does not need spam comments.

With Bitmain making ASIC Siacoin Miners, this coin is going to moooooon!!! Load up your bags!!!

Hi @Haejin, My apologies for the irrelevant comment but can you please share your thoughts on the whole market bleeding red, recovering and then bleeding red? I don't understand that how the whole crypto market behave the same when they are independent and decentralized blockchains? Can you please shed some light on reading crypto market as a whole in a separate post?

Thank you.

It’s because the cryptoworld is very new. When BTC goes down, everyone freaks out and wants to pull their money. It definitely is weird but the difference is some coins go down more than other coins.

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

Congratulations @haejin! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments received
You published 4 posts in one day

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

 7 years ago  Reveal Comment

Are you really 11 years old? Not even kids would post such nonsense. If you don't like these analysis, you don't have to be here ya know.

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

I was just thinking about selling SC. I'm up looking through some coins to get rid of. I think with the govt shutdown in the US the crypto market wont be good this week. I only have 3000 of them. Do you think I should hold. Its only $120 worth I have right now.

Sell half and keep half. If it goes down than buy more. If it goes up, you will still have some.

I prefer 💰

haejin i really wonder what kind of drugs are you using? cocaine? heroine? cant you see that long candlestick is worth 1btc and made out of purpose by some idiots to prevent people from analyzing all time graph. it cant be used as a part of cup with handle pattern. siacoin will increase but not because of your stupid analyze is correct. it will increase because of the recent hard fork and the demand on upcoming asics. so when it increases dont come up here and say you were right with your analyze. it will be demand. not your stupid analyze

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

Sia Coin can definitely hit it big. They have one of the projects that makes complete sense. Decentralized cloud storage is a great idea for so many reasons. If they land some big companies it should take off!

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment

U5drWoKJhgnFbz3yWs8aJNkJkUS5JWq_1680x8400.jpg

 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment
 7 years ago  Reveal Comment