I have no idea, what is the purpose of the cryptocurrency named STRAX, but chart is telling me one thing - big boys are accumulating this coin for 660 days and after they finish their accumulation (it could take another year to complete) they will send it to the moon.
Like the whole market Stratis did see a major pullback.
Looking at the chart against Bitcoin we see that we got pulled back near our ascending line (violet).
The first resistance line around 0.000062 was taken out which will make it easier to go through the next time.
Looking at the RSI we see that we get close to oversold regions.
Checking the Fib we recognise...
Still in accumulation zone.
But buying at support and selling at resistance still works for some #alts like this one.
Even tho it pumped almost 50% in the past few days, I'm still watching it.
ATH was in '18 at $22, now price is $1.6.
Stratis did a bullish breakout from the Head and Shoulders pattern.
We even did break the first resistance line and are currently consolidating above it.
If we manage to hold above the old resistance line and turn it into support we can expect further upwards movement.
Checkout the twittersite of stratisplatform which is very active.
- Never buy...
We did get our entry shown by the box.
The Head and Shoulders pattern plays out as well and we are likely to see upwards movement.
STRAX did hold very well during this midday pullback which is another bullish sign.
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
Hello traders, STRAX / Bitcoin is in a bearish dynamic fake in a symmetrical triangle with higher and higher lows and lower volume traded in compression. The RSI is below 50.00 which makes us say it is in the undersold zone, so we should have to make a bullish move in this market. And a MACD below zero, with a strong potential zero signal that the triangle...
Long way to go for STRATIS, one of the cryptoasset which has introduced many innovative idea. Price ranging above 4000sat. It has yet to give any signal of starting a trend. Perhaps Last Point Suppprt just around the corner.
STRAX/BTC just formed a bullish head and shoulders in the daily timeframe.
We can watch this to explode to our 50x target until the end of this bullmarket.
Strax also keeps you updated within the Blockfolio app and is very active there.
Have fun and enjoy the ride.
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for...