Full Siacoin vs Bitcoin Chart Analysis by request (SCBTC #1)

16 Okt 2021

We start with Siacoin vs Bitcoin (SCBTC), which is the TOP requested altcoin in our previous trade idea.

The first thing I would like to show you is what I call a bullish chart/trend/cycle.

The low for SCBTC was set late December 2020 at 10 satoshis, that is 0.00000010 BTC.

Any trading above this level, even if it takes years of waves and price swings, we consider this chart to be bullish.

A strong bullish wave took place from January 2021 until April 2021. This is also true for most Altcoins.

Keep this in mind when people tell you that Altcoins should drop because Bitcoin is going up.
Bitcoin had a strong bullish wave on this same period and we saw Bitcoin and the Altcoins growing as well, this is normal.

Siacoin (SCBTC) went from 10 satoshis in late December 2020 to 103 satoshis in April 2021, that's 906% growth.

Another thing to keep in mind is the huge bullish potential these Altcoins have.

After the bullish wave we get a correction, this is completely normal.

After the correction we get a long drawn out period of consolidation/accumulation. This is where all the weak hands will be removed. Then suddenly a new strong wave takes place that can last for many months.

Now comes the potentially tricky part.
After the consolidation we get another "Up wave", a bullish move but, sometimes support can be taken out and we get 3-4 more weeks (or months) of correction before the next bullish jump.

The main support is set at 30 satoshis marked by the 0.786 Fib. retracement level for the full wave that started in late December 2020.

If this level is taken out, we can see a few weeks or a long-wick down and then the new UP wave.

We get "straight up" or "drop first and then UP!".

The easy strategy is to simply buy and hold and be patient, focus on something else after your trade is set up (our main and basic trading strategy).
When the bullish wave is back on, it will be very clear.
When your targets are hit you collect the profits and your work is done.

I am a bull so I believe more in the bullish side but everything is possible at this point.

Next time we breakout strong, we will not stop at 103 satoshis it will go higher since we are trading within a higher low.
Here I am mapping 160 satoshis (0.00000160) as the target but this also varies wildly as things develop.

This is the first one of 20...
I will share your TOP 20 requested altcoins, 10 ALTSBTC and 10 ALTSUSDT, and then will share 5 of my own with strong bullish bias and potential growth

Thanks a lot for your amazing support.

Namaste.