I'll be the first to admit I do not like this coin due to it's huge supply. I generally like to navigate towards coins with supplies under 2 million. However, siacoin has been in the spotlight as of late and it looks like we have a buy opportunity to open a position that will be very beneficial over the next 30 days if we have the patience to hold.
If btc doesn't go on a rampage, siacoin could currently be forming a double bottom and could confirm end of wave 2 in cycle. Siacoin also has a hard fork occurring in late January and we all know hard fork = increase in value for whatever unknown reason. RSI and MacD looking good on the hour. On longer time frames the indicators don't look as good. However, that doesn't matter if this coin wants to follow bullish trend.
Trade Procedure:
Buy: 3 Options: 1.) Buy less than 170 sat and wait it out. OR 2.) Wait and buy break above 216 confirming double bottom. OR 3.) Wait and see if double bottom is invalid which will give us a drop to the 140ish sat area for a great buy.
Sell: This is really up to you. Siacoin has very wide percentage swings so they'll be some fluctuations along the way. Just be patient. I'll be holding up until the fork bc I know they'll be great gains by then. I'm expecting at least 350%.
Stop-loss: If you buy now: 149 sat For the patient trader: 113 sat
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Typo: I like coins with supplies under 200 million, not 2 million.
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Looking good so far. In a small dip right now, but it won't last for long! If you're looking to enter for a LONG trade, now is a good time.
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Congrats if you entered! My hope is that you were able to take some profits off the table during that pump!
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If we can break 230 sat, we should be well on our way to testing the recent high at 278 sat. Be patient.
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Wave 3 complete.
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We're at 400% of our initial buy! Congrats to everyone who held through the swings!! I believe Siacoin has more left in the tank. I'm holding until around January 24th and I'll assess how the market looks from there.
If you liked this analysis and were fortunate enough to profit, tips are appreciated and will support me for future trade setups for everyone to enjoy!
Before reading this thread i just bought Sia at .00000224 levels and felt good while reading that i could be in right boat, what is the price i could expect by end of January?
CryptoPrescience
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@mannusanghi, If bitcoin keeps calm and continues to consolidate or fall slowly, a conservative number would be around 380 sat. If the hard fork is hyped up (like most are), I feel 500-600 sat is the target. Thanks for the comment and Good Luck my friend!
Thanks for the great ideas, do you think it will go down to under 150 sat?
CryptoPrescience
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@romankupkovic, At this point I don't think it will. All indicators are pointing up. However, the one thing that can cause this coin to fall below 150 is if bitcoin soars to say 16,500+. I would recommend figuring out how much you want to invest and buying in portions. For instance, if you wanna invest $100 then buy $50 worth now and wait. If it drops more, then buy a little more and wait. I'm confident that this coin will rise good between now and the end of January. Patience is key and only invest what you can afford to lose. Thanks for the comment!