#STORJ Wait For ReactionIt seems to have completed the cycle.
It can have two movements to continue correction.
If confirmed, the sell position can be entered up to the green area and the specified profit limit.
Storjshort
3-TOP FOR REVERSEThe best area that can be considered for selling is after the formation of three consecutive ceilings, after which you can proceed to sell from the ceiling.
#STORJBTC - Retracement After BreakouttheCrypster -
After a nice 20% break upward of the pretty clear wedge #Storj had been trending for a while, we can now see a retracement forming as the price will be heading back down to recent support levels.
We should be expecting a drop of around 15% before support shows it's strength.
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STORJ BTC explaination of my previous analysis and resistances Hello everyone on my update of STORJ BTC analysis.
After my last analysis of this pair I have received a lot of PM that my analysis didn't work out. As i don't want to explain this to each one of PM I decided that I will write it here so that everyone can educate themselves.
1. Yes price went over my resistance but no one mentioned that price at end of the day closed below the levels that I pointed out and as a matter of facts this mean that resistance worked out ! there was a test of breaking this resistance but was unsuccessful and that matters. I know that this breakout was huge but it was driven by momentum and hype, normally breakout of this kind of strong resistances don't have that big moves but anomalies happen.
2. Why it is important to keep in mind resistances? Because often price does a bigger correction at certain points, nothing goes UP forever.
3. Why is it important to take some profits at resistance levels? Because you have to keep in mind that some resistances might work as trend reversals and you may never get the same price or you will have to wait for a long time.
I hope this 3 information will clarify my previous analysis.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."
STORJ BTC approaching resistance levels !Hello everyone on my analysis of sotjr pair with BTC.
I would like to point that this pair is approaching potential resistance at 61.8 fibonnaci level and also at 78.6 which looks in my opinion a bit more technical than 61.8 but as price made a huge move in past few days this may be a turning point for this pair or a bit of consolidation may occur at this level. This daily candle from today may be a "marking" candle this is what traders often call candles that are big and are made just to get to some kind of target on low volume and that is what we are seeing right now on storj. Also keep in mind that if BTC will move to the upside this action may drag price of alts to the downside, while price to USD will still rise.
As of writing this price hit 61.8 fibonnaci and retraced over 100sat in 2 min. this doesn't have to be 10-20-50% retracement but you should keep this level in mind.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."
