STORJ - Reversal BouncePrice has been consolidating nicely in the support zone from after the last run up.
I am more bullish to a break of the upside as opposed to a breakdown of support.
I would say 70 bullish / 30 bearish.
STOUSD trade ideas
STORJ - Fly 🕊️ Or Flop 🎭Storj had a strong pop off during the run, gaining more than 59% in less than 24 hours.
Selling pressure has finally bottomed out and a potential breakout is possible.
However, the volume is a bit weak on this move so far and if Bitcoin sold off quickly, this set-up would likely invalidate.
📉 Major Falling Wedge Setup on $STORJ 🚀Hello, fellow traders! Today, I've identified a significant trading opportunity on $STORJ with a major falling wedge pattern. Let's take a closer look:
📈 Technical Analysis:
$STORJ has been forming a well-defined falling wedge pattern, indicating a potential reversal in the current downtrend. Falling wedges are bullish chart patterns that often precede a breakout to the upside, making this setup particularly intriguing.
📉 Wedge Structure:
The falling wedge is characterized by a series of lower highs and lower lows, converging towards a point. This tightening price range suggests diminishing selling pressure and a possible shift in market sentiment. Keep an eye on the wedge's boundaries for potential breakouts.
🔍 Key Levels to Monitor:
Resistance: Watch the upper boundary of the falling wedge as a crucial level that needs to be breached for a bullish breakout.
Support: Monitor the lower boundary of the wedge, which acts as a key support level.
📢 Potential Breakout:
A decisive breakout above the wedge's resistance, accompanied by a surge in trading volume, could signal a bullish move. This breakout might lead to a reversal in the downtrend and potentially provide an opportunity for profits.
💡 Trading Strategy:
Consider initiating a long position on a confirmed breakout above the wedge's resistance level. It's essential to manage risk by setting a stop-loss order below the support level. Keep an eye on the overall market conditions and ensure proper risk management before entering any trades.
Please conduct your own analysis and exercise caution while trading.
📢 Disclaimer: This post is for educational purposes only and should not be construed as financial advice.
Let's stay tuned and follow the action on $STORJ! Share your thoughts and join the discussion below.
#TradingView #FallingWedgeSetup #STORJ #Cryptocurrency #TechnicalAnalysis #BullishReversal #BreakoutPattern
#storj if this happens, #storj will make a 630 X from hereI am supposing that the truncation has happened before and the coin has retraced into the 0618 Fib level.
from here, storj will make a 630x for the wave 3 and this will happen within 2 years.
prepare your self, calculate your risk and go ahead.
good luck!!
✴️ Storj 1,2,3,4 Step Pattern Spotted (Bullish Wave Confirmed) This is a pattern that we can look at across multiple charts to help us predict what will happen next.
#1 Is the initial bullish breakout after a very long and painful bear-market.
#2 Is the first breakout correction low.
#3 Is the lower low (higher low compared to #2 in some cases).
#4 Is where we are at all across, the next bullish wave that will take places in the following weeks and months.
Can you see it now?
Come and follow me, Cryptocurrency is going up .
On the STORJUSD chart we also have:
1- A falling wedge pattern.
2- Strong recovery the last three days.
3- Strong RSI.
4- Volume going up!
Patience is key.
Thank you for reading and thank you for your continued support, it is truly appreciated.
It will get better.
Waiting is boring but it will be good once everything starts to move.
The waiting can be used to learn from our mistakes and to improve.
Waiting can be used for relaxation and mental preparation, when the market becomes hot, it can be hard to stay on track.
Build a plan and see you at the top!
Namaste.
STORJUSD: Cup with Head and Shoulders 38,500% Upside PotentialSTORJ on the high timeframes has some huge logscale Bullish Patterns in the form of a 5 year wide Inverse Head and Shoulders as well as what could be seen as a Cup with Handle type of structure if we take the measured move of the pattern and apply it to the chart we find ourselves plotting the target of $180 upon breaking out of the pattern.
#STORJUSD - Fancy Going in for a 70% Long Trade?We're currently sat right on a critical level now, if the price can make a sustained break through this level of support we can see a path to $0.8 or more!
Keep your eyes on this one!
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Ideas by theCrypster meet the guidance notes and disclaimer as mentioned below and within our website. See Signature for more info! ✌️
theCrypster
STORJUSD something to keep an eye onSTORJ looks like it's in an accumulation pattern and if there was any logical time for it to start making a strong move back up toward resistance, it would be right about now. The long term targets on both sides are pretty extreme. This is less of a trade setup with specific short term buy and sell targets, and more of just something to keep an eye on. If crypto bear market continues and STORJ dumps down, keep an eye on the long term buy targets marked in blue.
Is Bitcoin about to beat the 200 week moving average this week?Traders,
Bitcoin is working hard against current overhead resistance. Currently, it has beaten the 200 week but to be sure, we need to see a close above 22,800 in 2 days when the weekly candle closes.
Also, I will review what the dollar and VIX may indicate regarding market price action next week.
And finally, we'll review a few of the altcoins that continue to call my name.
Stew
NFTs Are Here to Stay: Proof-of-Storage Makes its MoveBack from NFTNYC 2022 (was showcasing and promoting our new company there) and the biggest takeaway from the conference was the NFTs are here to stay, despite the downturn in the markets right now.
But during this period of market consolidation there have been a few "spikes" among select alt-coins as people start to tighten up their wallets and look for projects that have more utility over hype. The last few weeks have been very good for projects associated with decentralized storage systems, which includes STORJ and XCH (Chia Coin), which has basically outperformed every other crypto asset out there. (50%+ in the last few weeks.) These are the "signs of life" investors often look for to see if a project has "resilience" against the typical waves of ups and downs.
Proof-of-storage projects have potential large upsides - especially in the long-term - because while betting on which NFT project is going to "moon" can be extremely risky, it's a "sell pickaxes, not gold" situation where you can potentially profit off of regardless of which NFT collection themselves do well. Especially with security vulnerabilities starting to emerge as people realize that many NFT collections (including big-name platforms like OpenSea) are not actually decentralized and may be vulnerable to hacking or company bankruptcy.
In the past the question was - "are people going to care enough to protect these .jpgs in the proper way?" It seems like the answer to that is yes, and projects that already have solutions to said problems are likely to do well, long-term.
STORJUSD Amazing rise but needs to break this ResistanceSTORJUSD had a very strong rise yesterday, pivoting off the previous 0.62 - 0.64 Resistance level. Despite this heavily bullish short-term trend, the Lower Highs trend-line from its All Time High is now coming to play again and in fact rejected so far the price on its High yesterday. This is the second Lower High since April 04. That Lower High didn't just stop on the Resistance trend-line but also on the 0.5 Fibonacci retracement level.
This time the 0.5 Fib is just above the trend-line around 1.096 and this is the level to beat if we want to see a sustainable bullish move long-term. If a 1D candle closes above it, we can expect the next Fib levels above it (0.618, 0.786, 1.0) to get filled. If not, a new rejection can technically aim at least as low as the 0.33 Support. Notice how the 1D RSI tops harmonically align with every contact on the Lower Highs trend-line.
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Stoch, RSI, and Macd indicators with 100maCheck Stoch for being oversold (dips below bbottom line and then vrosses back over it)
Wait until the Rsi is above its middle green line
Confirm on MACD that the blue line crosses over above the other line
Confirm it isn't oversold yet (above the top line on Stoch)
Here you can buy if all these conditions are met. Ive found that if you check the 100ma and confirm that the price is above it and in an uptrend, then it seems to be a stronger buy signal.
When conditions are met in the reverse order, it's a good time so sell.
I use this on a 30 min chart for quicker entry and exit points, but I also check on the 1 hour chart to verify after my trade because it seems to be more accurate
This isn't a new strategy, but I like using them together and have found the 30 min and 1 hour time intervals to be the best.
