Many of you when you see the chart coin up, then ask if it is uptrend or not. I would like to use the chart of medium-term STORJ as an example:
You can see on the chart that I paint STORJ is entering the support Buy pretty well, the buy zone in the bottom half of the blue box (area 36 - 39), the SL area under the purple line. After this buying cycle, the bull market will rebound to 5858, correcting the 4311 zone and ending at 73xx. Target price reached 117% of profit. The target price may be higher, we will update when the cycle 1 is accurate.
However, you can see that STORJ is still in the long-term downtrend. The rally in October is likely to be just a quick rally, and STORJ will continue to fall further to 95% below the 1000 sts. We are temporarily measuring the 308 zone. This will be the end point for the bear market and start a new rally.
That means that the market has not been uptrend, the market is correcting the increase in the medium term, the coin tends to return from 50-200% of the bottom created and then continue to decline. So you should be very alert, protect the account, raise the SL and keep the original transaction. Wish you successful trading!
You can see on the chart that I paint STORJ is entering the support Buy pretty well, the buy zone in the bottom half of the blue box (area 36 - 39), the SL area under the purple line. After this buying cycle, the bull market will rebound to 5858, correcting the 4311 zone and ending at 73xx. Target price reached 117% of profit. The target price may be higher, we will update when the cycle 1 is accurate.
However, you can see that STORJ is still in the long-term downtrend. The rally in October is likely to be just a quick rally, and STORJ will continue to fall further to 95% below the 1000 sts. We are temporarily measuring the 308 zone. This will be the end point for the bear market and start a new rally.
That means that the market has not been uptrend, the market is correcting the increase in the medium term, the coin tends to return from 50-200% of the bottom created and then continue to decline. So you should be very alert, protect the account, raise the SL and keep the original transaction. Wish you successful trading!
Trade closed: target reached:
Target achived