Storj coin seems to find a strong support near 5k satoshi. This support is confirmed by a 127.2% Fibonacci retracement level of the last corrective wave up.
At the same time, STORJ/BITCOIN already rejected this price in the past, while between 21st and 23rd of October a small double bottom was formed. Now as the price returned to this level, once again it is acting as a support. If the support holds it should result in a corrective move up or even a trend reversal.
Nevertheless, the minor resistance at 6.6k satoshi should be watched as a break above should provide more strength to the Strorj against Bitcoin. A daily close below the key support at 5k satoshi could invalidate bullish outlook.
At the same time, STORJ/BITCOIN already rejected this price in the past, while between 21st and 23rd of October a small double bottom was formed. Now as the price returned to this level, once again it is acting as a support. If the support holds it should result in a corrective move up or even a trend reversal.
Nevertheless, the minor resistance at 6.6k satoshi should be watched as a break above should provide more strength to the Strorj against Bitcoin. A daily close below the key support at 5k satoshi could invalidate bullish outlook.
Trade active
Expecting continuation of the uptrendNote
Storj breaking above the resistance, this could accelerate the uptrend...Note
Very nice rallyNote
How do you like that? :)Note
Many many thanks for all your likes and comments, I appreciate that support guys!Trade closed: target reached
Note
Nice rally :)
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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.