by Seth Parker on September 5th, 2018

Stratis Analysis – It does not look good

Second piece of the day is about the Stratis. For the last time, we talked about this crypto on the 1st of June and wee were negative. The price was on the 4.35 USD and we were anticipating another test of the support on the 4 USD:

“The current scenario is still bearish and I see a big chance of another test of the 4.05 USD support soon. „

10th of June, that is the day, when the support was tested & broken. After this, we do have a beautiful, technical drop. Why technical? Because we do have lower lows and highs and both corrections are shaped like flags (red and blue). Currently, we are on the upper line of the second flag. That is a good place to sell, especially that the price is on the horizontal resistance on the 2.2 USD (orange).

stratis chart

In my opinion, as long as we stay below this level, the sentiment is negative and we should see a further decline. The sell signal will be denied, when the price will close above the orange area.

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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