Entry strategy for Siacoin ($SC ):

1. Support and Resistance Levels:

Support Level: This is the price level at which buying interest is strong enough to prevent the price from falling further. In the chart, look for areas where the price has historically bounced back or consolidated. These are potential support levels.

Resistance Level: This is the price level at which selling pressure is strong enough to prevent the price from rising further. Identify areas where the price has faced resistance in the past.

2. Support and Resistance Strategies:

Buy at Support: When the price approaches a strong support level, consider buying. Place a stop-loss order just below the support level to limit potential losses.

Sell at Resistance: If the price reaches a resistance level, consider selling. Set a take-profit order just below the resistance level.

Breakout Strategy: Watch for a breakout above a resistance level or below a support level. A breakout indicates a potential trend continuation. Buy on an upside breakout or sell on a downside breakout.

3. Entry Strategy:

Long Entry (Buy):

Wait for the price to approach a significant support level.

Look for bullish candlestick patterns (e.g., hammer, bullish engulfing) near the support.

Confirm with other indicators (e.g., moving averages, RSI) if possible.

Set a stop-loss below the support level.

Target the next resistance level or a predefined profit target.

Short Entry (Sell):

Monitor the price near a strong resistance level.

Observe bearish candlestick patterns (e.g., shooting star, bearish engulfing).

Confirm with other indicators.

Set a stop-loss above the resistance level.

Target the next support level or a predefined profit target.

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