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Cryptocurrency
by Seth Parker on December 28, 2018

Stratis Analysis – 1.25 USD under the pressure again

Let’s move to the crypto market, where we will start with the analysis of the Stratis, so an instrument, previously mentioned here on the 19th of December. Back in that day, we were around 1.19 getting ready for a breakout of the 1.25 USD resistance (red). That was the factor that was poised to give us a strong sell signal:

“We should still break the 1.25 USD horizontal resistance (red) and the thing is that we are testing it now. As long as we stay below, I cannot fully recommend buying here. After the breakout, well, after the breakout, that can look pretty nice. „

stratis chart

Breakout happened a day later and allowed the price to climb to the levels slightly above the 1.8 USD. Was that a good buy signal? Well, its up to you, definitely it could have been better but several % could have been made in those few days. Now, the price is dropping and actually testing the broken resistance (1.25 USD) as a closest support. Lack of the bounce or any bullish reaction can be quite worrying here, at least for the potential hodlers. In my opinion, the bullish signal is drained and now time for a drop. Sell signal will be triggered, when the price will close a day below the blue line, chances for that are quite significant.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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