Stratis wedge pattern. Bullish signals, but lower entry option.

Stratis: Hourly 20 above the 50 above the 200. CCI is green at just below 50 points.

4h same picture, but quite stretched.

We are heading into a wedge that needs to break up or down.

On the break below, a retest of the hourly - or even the 4h 50 could prove an excellent buy entry.

A breakout would have to close above 110k satoshi's to continue higher - a 10% rise from the breakout.

Fib target for a breakdown would be 0.618 - at 92672, very close to the hourly 200 - which is also the 4h 50.

15 minute view of the same;

Comment:

Drawing the fib a tad higher reveals that the current level might enjoy more support than my last chart gave it due. Notice the dips aligning quite precisely on these levels.
I would certainly expect it to break out above of this wedge, but patience is due until it does.

Confirmation would be a close above 110 thousand on an hourly candle, for a target nearer to 140k.

Comment:

Another scenario:

Here we draw the bottom of the wedge from the recent dips, which seem almost touches of the fib levels of the more recent movement. This wedge gives stratis a little more time and a little more room to the downside, with additional fib levels to find support on.
These might be strongly supported entries for an eventual move higher, which needs be much less dramatic when coming out of this wedge than to require a 10% move within a few hours before confirming: Simply to hold the bottom-wedge trendline for support would be enough to suggest a bullish continuation in Stratis against Bitcoin.

Comment:

we're heading lower.

Comment:

We have a breakout.

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Comment:

Lol sorry about that, it's early.

Here we see a fakeout and the lower buy entry target being hit! 0.5 fib at 0.00098

Trade closed: target reached:

Well, we got our entry and we're going back up.