Hello traders, following up from my price structure post for STR/BTC (chart is shown below), I have now spotted a bearish three drives pattern indicating a move up to 3670.
Price completed the 2nd price drive at 1.56 and we're now in the middle of the 3rd price drive which I am currently capitalising on.
As shown below price is currently consolidating between 2900 and the trendline, the maximum length of time we can stay in this area is 3 days.
A clear break and close above 2900 will see price heading towards the high at 3100, from there we will analyse further for a move up to 3670.
I don't expect to short this pattern, this is just additional analysis to back up the price move to 5000.
Thank you all for your continued support, feel free to connect with me on social media :)
Don't forget to join the Stellar Telegram group: @StellarLumens
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The gap is closing between 2900 and the trendline, we will experience a breakout between the 21st and 23rd of May.
If we do experience a break of the trendline, price will hold at the lower trendline and I will re-analyse future price movement.
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Expecting a move up to the wall at 2820.
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MOOOOON!!!
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Always look at what price is telling you, it's the language of the market.
It seems there's a very solid support at around 1450. The volume is also gradually disappearing, but the support is kept. I'm inclined to think there' gonna be a big jump soon. Also, it's almost at the 23.6% fib support, and I've not seen an altcoin drop below 23.6% (for a significant duration anyway) since March. Would be a first if this one does.
paloremthi
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@LewisGlasgow some new recommendations about STR ? : )
Spadille
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Welp, looks like it flopped.
LewisGlasgow
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@PileOfSalt, 100% all altcoins dropped, but STR didn't take it well lol