Crypto_Ed

Stratis is breaking out, but wait for more confirmation

BITTREX:STRATBTC   Stratis / Bitcoin
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Stratis is trying to break out, testing the yellow trendline but I'm not yet convinced.
I wouldn't be surprised if it falls back to the red trendline . I want to see RSI lower and the pattern alongside the blue trendline is corrective
Before you jump in this trade, wait for clear confirmation.
Clear breakout would be breaking the upper blue trendline . My advice is to wait for that or wait till it goed lower for a new try later.

Target: blue zone, based on Fibonacci extensions. That would be 3rd leg out of 5 legs up. Target for 5th leg will be determined in next updates.
Comment: Smaller timeframe, MACD shows that some more downside might be possible before continuing up.
Comment: Breaking to the downside, lets see if it goes below the blue box towards the red trendline. Before going long: wait for the breakout to the upside!

Comment: Breaking out after finding support in the blue box.
If you want to open a trade, make sure the price doesnt fall back below the trendline. We should see some consolidation before going up

Comment: SL below yellow trendline

Comment: Possible new chance for good entry or load some extra STRAT.
Look at these identical patterns. Watch price action in blue box.

Comment: Support didn't hold....
Due to the BTC bullrun, it looks as if it will make a deep correction.
First possible target based on Fibo:

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