Ive charted Stratis vs USD as it has the move volume in pair traded.
Ive been a long term maximalist in STRATIS for a fair while now and I feel that its current test of ATH is long over due, but the amount of hype there is over shitcoins these days outweighs good fundamentals
Lets talk charts. Starting from top down:
OBV: OBV has been climbing thought the last few years which tell me that money has been pouring into this asset and people have been accumulating.
Price action: After nearly a year of trading at the POC we had a spike of around 700%. It has since retraced to my buying window which is between the 618 and 786 fib levels. Price is also holding the 200ma on the weekly chart which is acting as support.
Volume: Looking at volume dropping off, we haven't seen volume this low since September 2018 and we are at the point of "Who's driving the bus?" meaning who is in charge here, the bulls or bears. If we break down from this 200ma we could potentially go back down to 65c where it will go back to original break out level and the 0.886 fib.
Histogram: Im not seeing much in the histogram but one good thing is that it hasn't made a lover low. If it did I would be instantly Bearish.
RSI: Rsi is kind of in no mans land, I would have liked to see this in the oversold territory but lets see as time goes on
Willy: Williams percentage R and a 13ema is a great indicator to tell us if an asset is truly over bought or over sold which its now telling us that its just crept into the over sold territory.
In conclusion, I need 3 reasons to make a trade. 1: Location. Where is price relative to fib buy zones.
2: Divergence. Are we seeing any bullish divergence in the indicators relative to price
3: Structure. Are we seeing any W's in price action or indicators. Remember W's in price and indicators are bullish and M's are bearish
Take this TA with a grain of salt as its my own opinion on what I see in the market. Remember, "Plan your trade and trade your plan"
Ive been a long term maximalist in STRATIS for a fair while now and I feel that its current test of ATH is long over due, but the amount of hype there is over shitcoins these days outweighs good fundamentals
Lets talk charts. Starting from top down:
OBV: OBV has been climbing thought the last few years which tell me that money has been pouring into this asset and people have been accumulating.
Price action: After nearly a year of trading at the POC we had a spike of around 700%. It has since retraced to my buying window which is between the 618 and 786 fib levels. Price is also holding the 200ma on the weekly chart which is acting as support.
Volume: Looking at volume dropping off, we haven't seen volume this low since September 2018 and we are at the point of "Who's driving the bus?" meaning who is in charge here, the bulls or bears. If we break down from this 200ma we could potentially go back down to 65c where it will go back to original break out level and the 0.886 fib.
Histogram: Im not seeing much in the histogram but one good thing is that it hasn't made a lover low. If it did I would be instantly Bearish.
RSI: Rsi is kind of in no mans land, I would have liked to see this in the oversold territory but lets see as time goes on
Willy: Williams percentage R and a 13ema is a great indicator to tell us if an asset is truly over bought or over sold which its now telling us that its just crept into the over sold territory.
In conclusion, I need 3 reasons to make a trade. 1: Location. Where is price relative to fib buy zones.
2: Divergence. Are we seeing any bullish divergence in the indicators relative to price
3: Structure. Are we seeing any W's in price action or indicators. Remember W's in price and indicators are bullish and M's are bearish
Take this TA with a grain of salt as its my own opinion on what I see in the market. Remember, "Plan your trade and trade your plan"
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