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Siacoin / TetherUS

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SCUSDT trade ideas

Siacoin (SC) A Big Bullish SetupDown channel: The price action of the Sia coin is moving in a down channel since 19th May 2021. It can be easily observed that the priceline is making more attempts to break out the resistance of the channel than breaking down the support. It can be also noticed that after hitting the resistance on 7th July 2021 the price action of Sia cryptocurrency did not reach the support of this down channel. If we take a look at the Bollinger bands then we can understand the reason, why the price line is not moving towards the downside. The reason is that the candlesticks are having the support of the lower banks of the Bollinger bands. The Bollinger bands is also squeezed which is a signal for a big move soon. Support and resistance levels and SMAs: On the weekly time frame chart, we can see the major support and resistance levels. There is a very strong key level support at point $0.009 and while testing this support at the same time the price line is also having the very strong support of 50 weekly simple moving average as well. The next resistance is at $0.015 and then we have key level resistance at $0.02 because after breaking out this resistance there is no significant resistance between the highest price 2 cents. There is also 25 weekly SMA at $0.02 resistance level. Big Fibonacci based harmonic BAT pattern: On the weekly time frame chart, the price line of SC has formed a big bullish BAT. There is also 50 simple moving average support in the buying zone. The buying zone as per the Fibonacci sequence of the bullish BAT can be as below: Buy between: $0.0158 to $0.00975 Sell between: $0.0303 to $0.0523 The maximum extent of the buying zone $0.00975 can be used as stop loss. As per the above targets, this trade has a profit possibility of up to 430%, and the loss possibility is 38%. However, at this time the loss ratio will be very low, because the priceline is already moving at the end of the potential reversal zone. Conclusion: The above move shows that the Sia coin can be more bullish than other top cryptocurrencies like Bitcoin, Ethereum, Binance coin, and others as well.
Long
by moon333
Inverse Head & Shoulders - Long opportunity with 6:1 R:R Hi all, Main TA Points; *** 1. Inverse H&S pattern. 2. Break and retest of 20MA currently holding. 3. Bollingers continue to tighten signalling incoming volatility. 4. No relief rally in over 10 weeks. 5. Good R:R *** Talking Points; *** Going to keep it simple this time, After reaching a peak of 6.5 cents we have had a long consolidation across the board. There has been uncertainty as to whether the Crypto Bull Run is over. I am of the persuasion that this is not the case. This month is crucial for all Crpyto to regain momentum and I think we will be successful. Nevertheless, we have not seen a relief rally in the last 2+ months and at the very least I expect a retest of the ichomoku as resistance for Siacoin. Additionally we have a break of the descending trend line for SCBTC pairing. Obviously we would prefer that Bitcoin leads the charge, and its worth noting that we are still valued at over 30K which is outstanding when you think about it. *** Estimates; *** As a measured move we are looking to test the 2.2 cent region. The R:R is good on this trade. Good luck, Please consider donating, following or leaving a comment if this analysis was valuable to you. SIA donations; 807db3f1186dd2a5a40418200064b44a94bffb0e32fac9e713923088a7e3bb0886c2d0281374 *** *** Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions. All investment and trade decisions, no matter how well investigated, involve risk.
Long
by Traders-Corner