theheirophant
Long

Siacoin revving up the engine-BullFilter & BottomFinder say Long

BITTREX:SCBTC   Siacoin / Bitcoin
Analysis:
Correction ended, and accumulation nearing final phase. Inverse "FatBart" Head & Shoulders seen.

Some fundamental things of note:

1.) Sia dev team is going to brick all Bitmain and Innosilicon ASIC miners (~10m USD worth of hardware) with a patch.

2.)The coin will fork and a version that does not include this ASIC resistance patch will be created. Fork is on Oct 31st.

3.)The only ASIC miner still able to work with Siacoin after this patch is the Obelisk, designed by siacoin partners.

Entry Point:
General Entry is this range is fine, just look for a local dip/low. Looking to go long in the range of 95 to 105, after pullback from current pus occurs. See detailed screenshot below, using Bottomfinder to find best local entry.

Take Profit:
The green lines represent target take profit levels. We suggest cashing out 10% at T1, 30% T2, 50% T3, 10% T4 (or let it ride if it still looks bullish ).

Stop Loss:
Stop Loss suggested at 88-89, which is below the liquidity pool and 2 established local support levels.

Upon completion of T1 move stop loss to entry point to secure a risk free trade. Additionally continue moving stop loss up by one target each time a new target it reached. i.e. when T2 is reached, move stoploss to T1 level.

This way you can ride out dips with no anxiety and automatically exit the trade in profit should you not be around to monitor!
Trade attivo: Retraced to entry perfectly. If you missed the boat, now is not the time to enter wait for a pullback.
Commento: Since wave drawn on chart has played out to a T. Lets see if we make a move up now this week.
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