Possible SiaCoin Breakout of structure LONG?

14 de jul. de 2017

It seems that SiaCoin may be on the verge of a breakout of major structure on the Daily, as well as a clearly defined Sharkfin and blood in the water on the TDI, which has some broadening of the bands, which suggests possible small move short, before the breakout. Daily Candle on the 2017-07-11 has pinned the Mayo EMA (200 EMA) which could mean we may see a breakout within the next day or two, based on the current structure and price action could fluctuate between support and resistance points before a clear path LONG.

On the 4 hour, there is a possibility that the move we see here is infact an impulse move short, which would be catastrophic to this pair, however I do not believe this is the case, although it is still a probability.

In my opinion, based on the structure of this pair and some fundamentals, I will go LONG, thus purchasing SiaCoins and holding them long term as I see SiaCoins increasing significantly in the next couple of years, if not sooner.

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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.

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