So this chart is a little bit different to my past charts. A friend of mine was saying the other day that often you want to sell the hype of a release because there is build up and after it actually releases there is often a dump. I applied this idea to the past three releases of SIA. As we can see the past two align with this theory very well (I believe the first one didn't function the same because SC was still establishing itself). The hype around the build up to the next release increased bu almost immediately after there was a dump.
I believe that we will see some serious action in SC before the estimated November release date.
In the shorter term, SC is still trying to breakout of a descending triangle. There have been a few delayed launches due to the craziness in BTC. But this won't last forever. SC is in heavy accumulation in the blue section of the pitchfork. Stoch shows potential for upside but RSI needs to improve. The clear indicator for me of upwards movement though will be a close above the trigger line.
Good luck and happy trading. PM me for entries or targets.
I believe that we will see some serious action in SC before the estimated November release date.
In the shorter term, SC is still trying to breakout of a descending triangle. There have been a few delayed launches due to the craziness in BTC. But this won't last forever. SC is in heavy accumulation in the blue section of the pitchfork. Stoch shows potential for upside but RSI needs to improve. The clear indicator for me of upwards movement though will be a close above the trigger line.
Good luck and happy trading. PM me for entries or targets.
