As most of you know, I love SC. I think the product is solid and I think it has a great future. But we cannot make big investments based of emotions and feelings, there has to be a large amount of logic and analysis. Right now supporters of SC need to overlook appreciation for the product and look hard at the trends. We are at a very critical juncture right now because if SC falls below the 23% fib line I think it will continue to fall and it could be a very long and cold winter for bagholders. But there is some hope. The stoch is oversold and the RSI is hinting at some upside. But it's going to take a lot to break this nightmarish downtrend.
Good luck people, and be smart.
Good luck people, and be smart.
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Some thoughts on resistance points and safe entry if SC is going back up. Remember, entry is not confirmed until RSI is strong and the lagging span crosses from below with volume.
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Not looking good
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To be honest the chart still looks like shit. So much work to be done just to break the downtrend. Here are two slim possibilities. 1. SC pumps a few times and breaks through resistance levels. 2. It holds at this level until the downtrend breaks in late September.
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Short term (15 min chart) looks pretty good, but so much work ahead.
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Dang. When I said "it could be a very long and cold winter" I didn't mean THIS COLD. No choice now but to hodl. Moon in 2018 perhaps.
