Hello everyone on my analysis of sotjr pair with BTC.
I would like to point that this pair is approaching potential resistance at 61.8 fibonnaci level and also at 78.6 which looks in my opinion a bit more technical than 61.8 but as price made a huge move in past few days this may be a turning point for this pair or a bit of consolidation may occur at this level. This daily candle from today may be a "marking" candle this is what traders often call candles that are big and are made just to get to some kind of target on low volume and that is what we are seeing right now on storj. Also keep in mind that if BTC will move to the upside this action may drag price of alts to the downside, while price to USD will still rise.
As of writing this price hit 61.8 fibonnaci and retraced over 100sat in 2 min. this doesn't have to be 10-20-50% retracement but you should keep this level in mind.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."
I would like to point that this pair is approaching potential resistance at 61.8 fibonnaci level and also at 78.6 which looks in my opinion a bit more technical than 61.8 but as price made a huge move in past few days this may be a turning point for this pair or a bit of consolidation may occur at this level. This daily candle from today may be a "marking" candle this is what traders often call candles that are big and are made just to get to some kind of target on low volume and that is what we are seeing right now on storj. Also keep in mind that if BTC will move to the upside this action may drag price of alts to the downside, while price to USD will still rise.
As of writing this price hit 61.8 fibonnaci and retraced over 100sat in 2 min. this doesn't have to be 10-20-50% retracement but you should keep this level in mind.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."