STORJ / BitcoinLong
STORJ/BTC Cup and Handle formation in sight
Updated
After a hard correction from August's 0.000708BTC high STORJ finally found bottom at 0.000101BTC. Given that Filecoin (an upcoming STORJ competitor) raised 200 million USD it shows that investors see huge potential in distributed storage. Because STORJ has a fully functional product (unlike Filecoin) I consider it a top pick for investors in the following months. Target entry is anywhere on the cup's trendline depending on when you are buying in. Make sure you follow Fib retracements closely. First target around 0.00046BTC, second target a bit under 0.00070BTC. Stop loss if a full day's candle closes under the trendline.
Thanks for reading, make sure you give this analysis a thumbs up if it you liked it and, as always, make sure you do your own research!
Thanks for reading, make sure you give this analysis a thumbs up if it you liked it and, as always, make sure you do your own research!
Note
Currently still following expected formation.Note
Stop loss, one full day under formation.
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