[SCBTC]: Siacoin correction completed !!! Potential Bullish Patterns in play

Summary:

Siacoin has been in correction mode like all other altcoins since Jan 2018. The longterm wedge was broken recently and price has started making higher highs. Volume has been increasing to support this higher prices,MACD hasn't really moved much to support this price hikes too, but this just could be just a start for a potential bull run soon.

Potential Bullish Patterns:

There is a potential Bull Flag pattern which is bouncing of full swing 50% fib on 1 hr chart, heading towards its target zone of 177 BTC .

There is also a inverted H&S formation in play with neckline at 160ish, whole targets also in the same area of the bull flag.

Elliot Wave should potential targets of 220 - 260 BTC all the impluse waves up.

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Disclaimer:

I am not a financial advisor, nor the information posted in this article is a financial advice. The information in this article is my personal opinion and is not recommended to make any investment transactions based on it. I do not take any responsibility for the investments made based on my analysis.