In this analysis, I used Fibonacci, Elliott Wave, Trendline, RSI and MACD to identify Stratis's price movement within the next two weeks.
It is obvious that Stratis has bottomed out at 0.00048633 on the 2nd of April. Since then, the market has enjoyed two major bull runs. The first bull run stopped at 0.00061065 which determined by the 5th Elliott Wave. The market had a small correction then headed straight toward another bull run on the 14th of April. According to the RSI analysis, the market started losing its relative strength index regardless the strong upward price momentum in the 4th wave (Elliott Wave Count of the second bull run). This has formed descending triangle pattern which is demonstrated by the three major lower low on the RSI (Blue shade area). This indication has got me confirmed that current stage is in its correction phase and the 5th wave has ended at 0.00070510.
Where is it heading to?
The MACD on short-time frame charts is showing a convergence trend of the MACD and the signal line. The market might end their correction phase within the next 24 hours before heading to a new bull run. The next resistance level would be the at 0.00078279 which was formed on the 3/3/2018
The current stage would be an ideal time for me to go long that has a potential gain of 14.24% over 2.80% of loss.
DISCLAIMER: I am not a professional technical analyst. This should not be used as financial advice for your trade. Everyone has their own opinion and technical skill sets and so do I. This is just a contribution of knowledge to the community.
It is obvious that Stratis has bottomed out at 0.00048633 on the 2nd of April. Since then, the market has enjoyed two major bull runs. The first bull run stopped at 0.00061065 which determined by the 5th Elliott Wave. The market had a small correction then headed straight toward another bull run on the 14th of April. According to the RSI analysis, the market started losing its relative strength index regardless the strong upward price momentum in the 4th wave (Elliott Wave Count of the second bull run). This has formed descending triangle pattern which is demonstrated by the three major lower low on the RSI (Blue shade area). This indication has got me confirmed that current stage is in its correction phase and the 5th wave has ended at 0.00070510.
Where is it heading to?
The MACD on short-time frame charts is showing a convergence trend of the MACD and the signal line. The market might end their correction phase within the next 24 hours before heading to a new bull run. The next resistance level would be the at 0.00078279 which was formed on the 3/3/2018
The current stage would be an ideal time for me to go long that has a potential gain of 14.24% over 2.80% of loss.
DISCLAIMER: I am not a professional technical analyst. This should not be used as financial advice for your trade. Everyone has their own opinion and technical skill sets and so do I. This is just a contribution of knowledge to the community.