Long Entry at LT Support and Falling Wedge Breakout for STORJ
Updated
Greetings, Snipers!
The crypto market had a lovely rally yesterday, which opened doors for some delicious breakout sniping!
My eyes are on STORJ:
In the shorter time frame, we can trade this channel:
We can take a long-entry now, at $0.26 - $0.29, and sell at $0.447 for a Risk-Reward ratio around 5x (SL at $0.234).
Other resistance levels are marked on the chart.
Please be mindful that Bitcoin is testing a strong resistance at $17,500 - $18,000, so manage your risks well as most cryptos move with Bitcoin!
Happy Sniping!
The crypto market had a lovely rally yesterday, which opened doors for some delicious breakout sniping!
My eyes are on STORJ:
- The price earlier hunted for stops at $0.24 and bounced to complete the falling wedge pattern
- STORJ has now broken out of a long-term falling wedge
- STORJ is re-testing a strong long-term support (since 2020) at $0.26
- In the past, STORJ has the tendency for quick, strong rebounds
In the shorter time frame, we can trade this channel:
We can take a long-entry now, at $0.26 - $0.29, and sell at $0.447 for a Risk-Reward ratio around 5x (SL at $0.234).
Other resistance levels are marked on the chart.
Please be mindful that Bitcoin is testing a strong resistance at $17,500 - $18,000, so manage your risks well as most cryptos move with Bitcoin!
Happy Sniping!
Trade closed: target reached
Sniped!STORJ reached the target.
It's hard to not make money during this rally ;)
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