STORJBTC trade ideas
Downward momentum dissipating - inflection point close.STORJ is undervalued relative to peers. Downward momentum is dissipating, and an inflection point seems close at these levels.
Expect a a move up to/above previous trend in due course, but will wait for higher volumes, and clearer reversal of down trend.
Storj 2 scenariosThere two possible scenarios for Storj:
1) Breaks resistance line then buy will moon then. lots of volume went out of storj. fomo might come when ppl who sold realize that they wont have the chance to rebuy at their sellprice.
2) storj will break support. it appears to be a strong support therefore unlikely but to me everything depends now on the next BTC move so what BTC price closely
STORJ Bearish.Since the news of Lead Engineer leaving STORJ we have seen bullish trend since the get go.
With STORJ competing with Maidsafe, and Sia we can see this hitting all low's.
If STORJ were to come out with some good news this would give us an opportunity for a cheap buy into STORJ for a lengthy hold.
As of now I don't think I will be investing in STORJ just yet
Lead Engineer Leaves: www.reddit.com