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Cryptocurrency
by Seth Parker on December 19th, 2018

Stratis Analysis – One small step from the strong buy signal

OK, for the traders who wants to stay away from the USD today, we traditionally have cryptocurrencies. In this particular analysis – Stratis. Stratis was previously mentioned on this portal on the 5th of September, when the price was slightly above 2 USD. Back in that day, we were totally bearish:

„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. „

stratis chart

That is one of the best analysis written here! The price went down straight away and on the 14th of December, reached lows on the 0.55 USD, what a huge drop! That may be the bottom though. We can see some chances for a reversal here as the whole crypto market seems going up. In our case, price already made a first step towards the buy signal – we broke the mid-term down trendline (blue). This alone is not enough though. 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.

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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