Siacoin (SC) | A Super Bullish Setup | Watch Details With Targets

By moon333 | moon333 | 12 Oct 2020


Hey, friends hope you are well and welcome the new update on Siacoin. In this video you will watch how: 

The price action of SC is moving in a down channel on the daily chart. And every time after reaching support it has rallied up to the resistance. At this time priceline is again likely to have bounced from this support and forming double bottom as well.

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On the daily chart, the price action of the Siacoin is also crossing up the exponential moving averages with the time period of 10 and 21. Now EMA 10 is moving up to form a bull cross with EMA 21 that will be a very powerful bullish signal.

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On the weekly chart, the priceline is getting bounced from 50 simple moving averages support. Before this price action was rejected by 100 SMA, therefore it can be expected that after this bullish bounce it can again reach at 100 SMA which is at 0.00000036 btc at the time of writing.

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The priceline of Siacoin has formed bullish BAT on the 2-week chart.

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The targets as per the Fibonacci sequence of BAT are:

 

Potential reversal or buying zone: 0.00000024 to 0.00000021 btc

 

Fibonacci projection or sell zone: 0.00000030 to 0.00000039 btc

 

Conclusion:

 

The price action of Siacoin has completed a harmonic bullish move. The price action also has good supports of 50 simple moving average on the weekly chart and EMA 10 and 21 supports on the daily chart. The SC is also getting bounced from the support of a down channel on the daily chart therefore we can expect a bullish rally soon. However, the potential reversal zone of BAT should be used as a stop loss. Because if this PRZ level will be broken down then the price action can move more down for the completion of a bullish Crab pattern.

 

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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