Stratis is coming to the end of a large pennant.
The closer it gets to the point; the higher probability it breaks down. I am looking for a break of the hypotenuse on the 19th or 20th. This could lead to a 150% return to reach the old highs. So a 3:1 Risk vs. Reward from here. The old highs would traditionally be resistance and see profit taking along with the "thank god I broke even" selling.
Depending on crypto momentum at the time of retesting old highs; it may take a few days to consolidate and break thru or reinforce resistance and create a large channel. Either way I will sell 2/3 at top and wait and see.
The closer it gets to the point; the higher probability it breaks down. I am looking for a break of the hypotenuse on the 19th or 20th. This could lead to a 150% return to reach the old highs. So a 3:1 Risk vs. Reward from here. The old highs would traditionally be resistance and see profit taking along with the "thank god I broke even" selling.
Depending on crypto momentum at the time of retesting old highs; it may take a few days to consolidate and break thru or reinforce resistance and create a large channel. Either way I will sell 2/3 at top and wait and see.
Comment:
The break out coincided with the Bitcoin run from 2500 to 2800. So in Dollar terms we scored a double; but in BTC not so much.