STG seems to form a Wyckoff accumulation price action. At this moment, it holds quite well the current level $1.03. In my opinion, one can have two potential LONG setups.
Set-up 1: if STG hold the current level while BTC could down as much as $23000.
Set-up 2: if STG cannot hold the current level, and go down to the the long-term trendline.
Target will be the resistance at AR (high range of the blue box). Stop-Loss would be -5% from support levels.
In this context where BTC is going down, this is a high-rish trade but with good R:R.
You can check my analysis for BTC in the link below for possible reaction of BTC in short-term.
Set-up 1: if STG hold the current level while BTC could down as much as $23000.
Set-up 2: if STG cannot hold the current level, and go down to the the long-term trendline.
Target will be the resistance at AR (high range of the blue box). Stop-Loss would be -5% from support levels.
In this context where BTC is going down, this is a high-rish trade but with good R:R.
You can check my analysis for BTC in the link below for possible reaction of BTC in short-term.
Comment:
STG has recovered 14% since entry. Some profit token at $1.15. SL is risen to entry $1.13.
Comment:
STG is bouncing after retesting the box's support
Trade active:
Setup 2 is activated with entry $1 and SL $0.87.
Target $1.33
I'll add more when prices are down to $0.95
Target $1.33
I'll add more when prices are down to $0.95
Comment:
+15% (at least) since proposed entry of Setup 2
Would take some profit at $1.15 because BTC would go down again.