Stratis has finally pushed lower and broke the triangle support around 0.00055, further accelerating losses. In addition, the coin is now under both 100 and 200 DMA which further complicates the situation for the bulls. Looking at Fibonacci levels, Stratis is trading below the last level of support - 88.6% and approaching 100% level. If the bounce is going to happen, then it can be expected from that level i.e. 0.000335. If that scenario is materialized, a double bottom pattern could be in play potentially.
Hence, we advise traders to be patient and wait for Stratis to eventually come to the key horizontal support level. In that case, following levels should be respected:
ENTRY: 0.000340
SL: 0.000290
TP: 0.000500
R:R 3.2:1
A take profit should be placed under at the falling trend line or against the ascending triangle support level.
Hence, we advise traders to be patient and wait for Stratis to eventually come to the key horizontal support level. In that case, following levels should be respected:
ENTRY: 0.000340
SL: 0.000290
TP: 0.000500
R:R 3.2:1
A take profit should be placed under at the falling trend line or against the ascending triangle support level.