Hi all, welcome again and thanks for sparing your time seeing this analysis. Looking at the daily chart of stratbtc. You see now the candle is testing EMA21 again after it tested 3 days ago and got bounce a few.
Looking at the chart, I'd say there's a good chance it'll gonna form cup pattern with the target price at 72000 - 75.000 Satoshis at the end of this month. But first, you could see that EMA21 join team with the two trendline (blue stripes & grey stripes) so it's pretty crucial to confirm the pattern by passing this level A.S.A.P. Then another resistance will be at 61,8% retracement (68000). This scenario will be invalidate if the candle finally closed below 58000.
Looking at the chart, I'd say there's a good chance it'll gonna form cup pattern with the target price at 72000 - 75.000 Satoshis at the end of this month. But first, you could see that EMA21 join team with the two trendline (blue stripes & grey stripes) so it's pretty crucial to confirm the pattern by passing this level A.S.A.P. Then another resistance will be at 61,8% retracement (68000). This scenario will be invalidate if the candle finally closed below 58000.
Trade closed manually:
Bitcoin huge correction ruining stratis momentum to rally. 72000 satoshis becomes mid term target. For now, hold with stop loss if below 58000
