Hello Traders!
Welcome to another chart update,
Today’s chart will be on Stratis which has broken a key structural resistance level, now potentially support upon a retest.
Will Stratis continue with this bullish bias?
Points to consider,
- Daily trend change
- Key structural resistance broken
- Stochastics trading in upper region
- RSI in upper region
- EMA’s cross bullish
- Increase in volume
- VPVR decreasing in transactions
STRATBTC has confirmed a daily trend change by breaking a key resistance level and putting a new higher high. A retest of the key structural resistance will confirm an S/R flip; this is likely as we do have a small bearish divergence coming to fruition.
The stochastics is currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. RSI is travelling in overbought regions; a retest of its support is highly probable.
EMA’s have crossed bullish, a strong indicator for a trend change, must hold true for Stratis if it starts to test upper regions.
Volume has clearly increased, this is very healthy and must sustain for follow though in price. The VPVR itself is decreasing in transactions, this signals that resistance is low for when Stratis when testing upper levels in terms of volume of transactions.
Overall, in my opinion, STRATBTC is likely to retest the now structural support to confirm a bullish re-test before making moves higher.
What are your thoughts?
Please leave a like and comment,
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Welcome to another chart update,
Today’s chart will be on Stratis which has broken a key structural resistance level, now potentially support upon a retest.
Will Stratis continue with this bullish bias?
Points to consider,
- Daily trend change
- Key structural resistance broken
- Stochastics trading in upper region
- RSI in upper region
- EMA’s cross bullish
- Increase in volume
- VPVR decreasing in transactions
STRATBTC has confirmed a daily trend change by breaking a key resistance level and putting a new higher high. A retest of the key structural resistance will confirm an S/R flip; this is likely as we do have a small bearish divergence coming to fruition.
The stochastics is currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. RSI is travelling in overbought regions; a retest of its support is highly probable.
EMA’s have crossed bullish, a strong indicator for a trend change, must hold true for Stratis if it starts to test upper regions.
Volume has clearly increased, this is very healthy and must sustain for follow though in price. The VPVR itself is decreasing in transactions, this signals that resistance is low for when Stratis when testing upper levels in terms of volume of transactions.
Overall, in my opinion, STRATBTC is likely to retest the now structural support to confirm a bullish re-test before making moves higher.
What are your thoughts?
Please leave a like and comment,
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader