Welcome to my TA on 
STORJBTC! I've been long this coin November of last year, but this is my first public analysis on it. I'm long-term bullish about this asset, as it seems to solve an actual problem facing us in the future. Considering the rise of IOT devices, it makes sense that even storage should be distributed with the ability to charge very small amounts of money for services. STORJBTC has taken a beating since BTCUSD took down the whole market, but I'm seeing a slowing of a downtrend in, what I think, is a preparation for a rebound. This has been a common trend that I've seen in smaller-cap cryptos experiencing a downtrend. Here are the key characteristics that I've been seeing:
What I'm seeing here is strong evidence of a flattening region in preparation for a reversal. The coming days will show us which direction we're headed. If we do see a reversal, I'll post another trade idea with buy in, stop loss, and trading targets. I'd like to hear your thoughts onSTORJBTC, especially if you're trading/looking to trade! Please comment below, as the more input we see, the more informed we are!
*** This is not a recommendation to buy or sell, this is for educational purposes only! ***
STORJBTC! I've been long this coin November of last year, but this is my first public analysis on it. I'm long-term bullish about this asset, as it seems to solve an actual problem facing us in the future. Considering the rise of IOT devices, it makes sense that even storage should be distributed with the ability to charge very small amounts of money for services. STORJBTC has taken a beating since BTCUSD took down the whole market, but I'm seeing a slowing of a downtrend in, what I think, is a preparation for a rebound. This has been a common trend that I've seen in smaller-cap cryptos experiencing a downtrend. Here are the key characteristics that I've been seeing:- Established downward-trending channel
- Pattern of touches on a parabolic line, showing a flattening towards the right
- Healthy swings in RSI, with oversold indicators towards this flattening region
What I'm seeing here is strong evidence of a flattening region in preparation for a reversal. The coming days will show us which direction we're headed. If we do see a reversal, I'll post another trade idea with buy in, stop loss, and trading targets. I'd like to hear your thoughts on
STORJBTC, especially if you're trading/looking to trade! Please comment below, as the more input we see, the more informed we are! *** This is not a recommendation to buy or sell, this is for educational purposes only! ***
Note
We're approaching oversold here because of the jump in BTC.Note
I doubled down on STORJ on this recent dip. High RSI divergence and expecting the price to snap back.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.