Stratis due for retracement: sucker's rally and then we go up!
Hello all,
Again a Stratis chart. Updated from the last one. In the last one we’ve expected the run upwards to this zone and it happend. Congratulations on the move upwards! Don’t fall for the negative vibes around coins being at the bottom. Actually that’s a sign to start buying.
Right now, what do we see:
MACD negative cross.
Retracement from $8.00+ to already $7.00 now, probably also due to the fact that $BTC was moving downwards.
Smaller timeframes (2h up to 12h) we see bearish divergences on the timeframes, indicating that we’re reversing.
What do I expect from this boy?
Scenario 1: The market is pretty bullish and BTC bounces at $8.600 zone, we’ll bounce around the $6.50 zone. There’s the first fibonacci level (0.382). For that we need to see bullish divergences on multiple timeframes and probably hold the RSI 50 on the daily.
Scenario 2: We didn’t fully test the $5-5.50 zone, so I’m expecting a test from that zone. There’s a heavy support area (check the bounces there). Strong fibonacci level there. If we bounce here, that’s a real sucker’s rally.
So, what will happen after? Well, it’s a sucker’s rally. I’m expecting BTC to break out after + Stratis will do the same. BTC from breakout there to $20.000 will induce a great alcoin season.
If you’re investing in Stratis, just hold on. No need to worry. Tradingwise, I’d say coming weeks are great.
Again a Stratis chart. Updated from the last one. In the last one we’ve expected the run upwards to this zone and it happend. Congratulations on the move upwards! Don’t fall for the negative vibes around coins being at the bottom. Actually that’s a sign to start buying.
Right now, what do we see:
MACD negative cross.
Retracement from $8.00+ to already $7.00 now, probably also due to the fact that $BTC was moving downwards.
Smaller timeframes (2h up to 12h) we see bearish divergences on the timeframes, indicating that we’re reversing.
What do I expect from this boy?
Scenario 1: The market is pretty bullish and BTC bounces at $8.600 zone, we’ll bounce around the $6.50 zone. There’s the first fibonacci level (0.382). For that we need to see bullish divergences on multiple timeframes and probably hold the RSI 50 on the daily.
Scenario 2: We didn’t fully test the $5-5.50 zone, so I’m expecting a test from that zone. There’s a heavy support area (check the bounces there). Strong fibonacci level there. If we bounce here, that’s a real sucker’s rally.
So, what will happen after? Well, it’s a sucker’s rally. I’m expecting BTC to break out after + Stratis will do the same. BTC from breakout there to $20.000 will induce a great alcoin season.
If you’re investing in Stratis, just hold on. No need to worry. Tradingwise, I’d say coming weeks are great.