STRAT is a patterns trader dream
Updated
STRAT is looking very very well.
1) It is on the 4 month bullish trendline.
2) Very big volume
3) Successfully broke the first resistance line few weeks ago and tested the previous key price level at around 0.0026
4) Returned back to the trendline forming a beautiful LARGE double bottom formation + a small double bottom formation inside the first formation.
5) Recently formed cup and handle pattern
Trading ideas:
1) Since it is too late to buy it at the bottom near the long term trendline current price is still a relatively good buy
2) Break through the key price level could indicate longer term bullish run to ATHs due to the large double bottom pattern formed. Also overall altcoins market seems promising at the moment.
I would keep a part of the position for longer term(1-3months), pushing the stop loss higher and higher but keeping it under newly established support (previous resistance) levels.
1) It is on the 4 month bullish trendline.
2) Very big volume
3) Successfully broke the first resistance line few weeks ago and tested the previous key price level at around 0.0026
4) Returned back to the trendline forming a beautiful LARGE double bottom formation + a small double bottom formation inside the first formation.
5) Recently formed cup and handle pattern
Trading ideas:
1) Since it is too late to buy it at the bottom near the long term trendline current price is still a relatively good buy
2) Break through the key price level could indicate longer term bullish run to ATHs due to the large double bottom pattern formed. Also overall altcoins market seems promising at the moment.
I would keep a part of the position for longer term(1-3months), pushing the stop loss higher and higher but keeping it under newly established support (previous resistance) levels.
Trade active
Note
Not enough volume to push through resistance, but still looking very strong. Expect a more significant move to TP1 in the next few days.
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