STORJBTC
STORJ going for its final legSTORJ has broken out of its downchannel a month or so ago and made two nice waves with deep retracements each time. It might bounce up and down the trendline for a bit more time, but at this point STORJ is already oversold on the 4h and daily charts, so one of these days we could expect a good move upwards towards the upper trendline.
Entry at this point and a stoploss a bit below the blue box would be a nice setup.
STORJ/BTC 1H Kumo TwistThe previously thick cloud, recent kumo twist, and bullish tenken are suggesting a possible bull run here through the cloud. The long flat line at the top of the cloud serves as a good indicator of resistance and a decent target for a short term trade. This target also lines up perfectly with the 0.5 fib if you retrace from the ATH to the local low. The ATH would be the longer and riskier target here but would probably warrant more bullish signals from the 4h chart. Trade is invalidated if price falls outside of cloud.
[TRADE IDEA - FORECAST] STORJBTCIt's a brand new coin and there's not much intel so we can make a better-educated guess so let's see what we have.
First, let's keep with the basics: Look at this last rally up, we all know: everything that goes up too fast tends to readjust, so waiting could be your friend to avoid a massive dump.
Second it's very close to the "oldest" resistance level which is reinforced by the fibonacci level at 0.000108, so the downside is huge.
Even though the volume is increasing, this is expected in such a new coin, so I would not count this as such a positive indicator.
The rest of indicators show a very overbought position plus sellers are passing buyers, so it's very likely to a readjustment.
A safe approach would be waiting a couple hours and see if it will readjust close to the up trend support(green arrow) so a good buy level with a smaller down side would be around: .000095-.0001 and watch close to the .000108 resistance level.
Or in case of breakout which is possible despite the indicators(it's a "new coin" so usually TA is not very reliable in this case) a safe abroach would be buying above the highest candle that closes COMPLETELY above the .000108 resistance level. I like to measure with 1h candles to be safe, you can use smaller time frames if you feel comfortable - the longer the safer.
In case of breakout sell target would be around: .00014, if it fails to get there get out quickly profitable, better a small smile than a big tear.
Good trading,