STRATIS ❌ Multi-Timeframe Analysis of STRATUSDT's uptrend
💬 Stratis (BINANCE:STRATUSDT) showing price movement that can be seen on multiple time frames (as we will illustrate). That, along with their latest achievement of interoperability between their blockchains and IBM's Hyperledger blockchains, is reason enough to be excited. Let's look for some levels on the 1h and 4h.
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Summary:
As long as the bulls can hold above S2 on the hourly and break R1, there is no reason to think Stratis can't keep running. As you can see there is lots of room for bullish continuation on the 4h, we just need to see the bulls navigate local price action with strength to show the market they have what it takes to take STRAT from upward grind to a parabolic run.
Resources:[/I]
thecurrencyanalytics.com/16493/stratis-strat-enterprise-ready-technologies-identity-trust-and-supply-trust-blockchain-solutions/
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- Support:
- S1: The S1 S/R flip is the first point of support. We are approaching this level now, so this is the first one to watch. We are thinking price could move a little lower, but those looking for early entries should start looking here.
- S2: If S1 doesn't hold, the S2 orderblock and S/R flip cluster at the minor price pivot point makes a lot of sense as a support. Below S2 we lose some of the bullish structure we are looking for and will want to resort to a higher timeframe plan as shown by our multi-timeframe analysis below. Meanwhile, if S2 doesn't hold, the bears will be looking for S2 to flip to resistance and result in a move down to the large prior price block as shown by the red ABC on the chart.
Resistance: - R1: The R1 S/R flip if the main point of resistance. A move up after testing S1 and/or S2 that finds support on top of R1 is the ideal move for the bulls. Anyone looking for a conservative entry should consider the pullback move after we break above R1 as shown by the aqua ABC.
Multi-Timeframe:
There are two important things to note on the higher timeframe chart. First off, we can see upwards grinding price action since the COVID bottom with levels being respected as higher lows were put in since June. Second, we can see bullish continuation above the major price pivot point. We expect this move to continue higher. First however, we still have room to find support on the S1 cluster and pivot point range if hourly support can't hold.
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Summary:
As long as the bulls can hold above S2 on the hourly and break R1, there is no reason to think Stratis can't keep running. As you can see there is lots of room for bullish continuation on the 4h, we just need to see the bulls navigate local price action with strength to show the market they have what it takes to take STRAT from upward grind to a parabolic run.
Resources:[/I]
thecurrencyanalytics.com/16493/stratis-strat-enterprise-ready-technologies-identity-trust-and-supply-trust-blockchain-solutions/
✨Drop a comment asking for an update, we do NEW setups every day!✨
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