STRAX/BTC Update: Still following the upwards movement
Like the whole market Stratis did see a major pullback.
Looking at the chart against Bitcoin we see that we got pulled back near our ascending line (violet).
The first resistance line around 0.000062 was taken out which will make it easier to go through the next time.
Looking at the RSI we see that we get close to oversold regions.
Checking the Fib we recognise that we have to hold the 0.6 line to remain bullish.
If you are interested into more details about Stratis so checkout their twitter page:
https://twitter.com/stratisplatform
You also can ask questions at their AMA on May 25 at 12:00 (EDT).
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
Looking at the chart against Bitcoin we see that we got pulled back near our ascending line (violet).
The first resistance line around 0.000062 was taken out which will make it easier to go through the next time.
Looking at the RSI we see that we get close to oversold regions.
Checking the Fib we recognise that we have to hold the 0.6 line to remain bullish.
If you are interested into more details about Stratis so checkout their twitter page:
https://twitter.com/stratisplatform
You also can ask questions at their AMA on May 25 at 12:00 (EDT).
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
