After breaking above the previous resistance at 88k satoshi and the 200 Moving Average, suddenly Stratis is looking strong against the Bitcoin. Following the break above the resistance, STRAT/BTC went down and re-tested the 88k satoshi support, which in fact has been rejected.
The potential of the Stratis is definitely there and its quite likely that it will continue rising. The nearest resistance is at 125k satoshi, where 61.8% Fibonacci retracement is located. Then 144k and finally 160k resistance. Break above 160k satoshi could establish a longer-term uptrend although it is yet to see how price will react on each of the resistance. Break below the 200 Moving Average should invalidate bullish outlook.
The potential of the Stratis is definitely there and its quite likely that it will continue rising. The nearest resistance is at 125k satoshi, where 61.8% Fibonacci retracement is located. Then 144k and finally 160k resistance. Break above 160k satoshi could establish a longer-term uptrend although it is yet to see how price will react on each of the resistance. Break below the 200 Moving Average should invalidate bullish outlook.
Comment:
So far resistance has been rejected, in order to continue going up it must be broken
Comment:
Support rejected
Comment:
Second target reached
Comment:
Second target broken should go up to the third target
Trade closed: target reached