botje11

Stratis STRAT, Wedge and Inverse H&S, Part 3

BINANCE:STRATUSD   Stratis / US Dollar (calculated by TradingView)
So far it's up around 20% since the start of the fractal , but to be honest, it has been very disappointing so far. I expected much more of this one, but it is still following that blue line quite well. It could still happen of course, simply don't know, but i will be using the blue and red zone as a stop level now. If we do see another move up from Bitcoin' above the 4000/4100 without an acceleration of Stratis, i will most probably just sell it, because than it will mean there is no interest in this coin.

For now, we should see a break up happening, in my last update i said it was against a resistance from which we broke out off already, but now it is against a bigger one. To remain bullish as the rest of the market, it should not drop below that blue zone anymore.



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Previous analysis:
Comment: Still low volume, but the stratBTC pair broke that wedge and made a good volume break up. But in USD, it's still nog that convincing though, we need to see much more volume for this to really become something, otherwise it will prob drop again like it has been doing the past days.

Comment: There was an attempt to break up, even a second one while bitcoin was dropping a little bit, but eventually failed again, dropped back in the channel and now even at the low of the channel again. It could still happen, but chances are getting smaller each time.

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This shitcoin Strat is yet another example that illustates how enemic TA is when assessing crypto. A HUGE bullish formation that gets a big pump from btc but moves said shitcoin basically nothing. Why? Because all these crypto shitcoins are controlled by a tiny portion of players who decide when and how to move them. TA is irrelevant to the market because there is no "market".
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botje11 BlurShines
@BlurShines, That is probably the case indeed, those irritating bots that always pop up in front of your buy and sell orders. Funny thing though, it's like there is always someone who calls a coin a shitcoin, dont think there is a good coin out there?
I just posted something about the manipulation in my channel, but you prob read it already. About that trader having a 16 mil short at the exact high of btc
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