Crypto markets have taken another huge step forward this week, led by Bitcoin surging past the 2.5x mark of $8,500. While the rally appears to have taken a brief pause, indicators and trends are pointing to another huge push on the horizon that will send it past $10,000. Meanwhile, Siacoin (SC) is looking like it’s about to have a massive breakout and climb close to 140%. Cardano (ADA) is showing many of the same signs that SC is, and we’re expecting huge results from ADA in the coming weeks too.
We can feel a huge pump coming on – after all, it’s alt season!
Bitcoin Heading to $10,000 Very Soon
The Bitcoin bulls are back in town and it looks like they’re here to stay. As soon as Bitcoin broke through the $8,500 resistance level, we saw it flirt with $9,000. From there it took a brief pause for a mini accumulation phase, but it looks like this is only temporary. The short-term and medium-term trends are both pointing to another push higher, as such we’re looking towards the $10,000 level.
Our guide for making a decent chunk of change in this next push is to buy in around $8,800 – use a buy limit order if necessary – with a stop loss at $8,500 – the next significant support level. You’re going to want to take profit around $10,000, as it sits just below the next resistance level. It Bitcoin could very well shoot much higher than $10,000, but it will be short lived before we see another accumulation phase, with Bitcoin falling just below $10,000.
Siacoin Mega Pump Incoming
SC is rather undervalued at the moment and has largely been remaining dormant during the recent upwards market trend. It might be an old altcoin, but it’s a gold altcoin. SC currently has a bullish RSI divergence with higher lows and an LTF downtrend broken. We’re currently witnessing a current trend of low sats, making SC look like an absolute bargain right now.
If you can get in anywhere between 39 and 44 sats you will do well. Consider a stop loss around 37 sats just in case it decides to take one final step downwards, but we can’t see this stop loss being triggered from the data available. Our first target is 61 sats, with target two around 76 sats, and a third target price at 94 sats. Set up stop limit orders to take profit off the table, as you don’t want to be holding SC when it comes crashing back to Earth.
Cardano Ready to Rocket
Back in April, Cardano was one of the top performing tokens out there, but it quickly ran out of steam. Now, Cardano looks set for a mega pump and it’s time to go all in to scoop up some major gains. ADA is looking set to complete its retracement for wave two, with wave three looking like it will be an upwards trend, taking us to the 1.618 fib. Wave four will likely hold a small retracement for accumulation, and the fifth wave could very well take us to 1674 sats. We recommend looking to buy in below 993 sats with a stop loss around 850 sats. Put up some stop limit orders around the 1,400 sat mark, then again at the 1,600 sat mark to make sure that profits don’t pass you by.
Bitcoin is preparing to head to fresh yearly highs and alt season is in full swing. Pick your tokens wisely and set up orders to take profit off the table and ensure a healthy account balance.