Siacoin provides an open-source low-cost solution for cloud storage, offering encryption and distribution of files chosen for storage by users across a decentralized network of peers. User-controlled private keys give the assertion that no third parties should have access to or control over data stored on the network.
As a result, the cloud storage marketplace made available to users of the SIA blockchain is meant to be highly redundant, completely private, and more affordable than many alternatives. (Source)
Let's take a look at this chart:
- Siacoin just brekout of the triangle
- Volume keeps increasing
- The MACD and RSI are becoming bullish
- A W-formation can be spoted on a daily chart which give us another strong signal for a move up!
On the chart above you can see that SC is trading above the MA 50 (the blue line) and is testing the MA 100( the purple line) with a possible breakout! There is a very strong support @60-61 satoshi which can be used for our stop loss. ( below 60).
Disclaimer : My posts are never financial/invest advice! For a favorable outcome, make your own research! Never invest more than what you can afford to lose. Don't forget, it's all about positive thinking and patience!
Remember, you should always use a stop loss!
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