Jun 8, 2017 10:00 AM
(This post was last modified: Jun 8, 2017 10:29 AM by AJ911.)
Over the past few days, there's been a lot of questions about whether to hold, buy or sell STRAT.
There was clear technical information that STRAT was going to retract from the huge price movement made over the past two weeks. Against all bets made by those who refused to believe that STRAT would break 0.0034, the trendlines of STRAT clearly show that it was on a downward trend.
My advice as of the 5th June was to get out of STRAT, breaking even just before BTC squeezed up and affected the altcoin market capital. Over the past few days we have seen STRAT decline in price, with support at 0.0031/30.
Based on predictions and charting that has been pretty accurate to date, either STRAT will reverse pretty soon (upwards) having now retracted to the end of a wedge pattern, or decline further down to 0.0028/25 which were previous highs earlier last week.
The factor that affects this the most is whether or not BTC recovers or continues to drop. It is not the case that if BTC drops, alt coins go up and vice versa. It is much more the case that both indicate market confidence and right now a lot of investors are waiting to see which direction prices go.
It is always the case that many traders will be looking to get in at the lowest price before the next gap up, however judging that is always the risk as we don't know what the bottom is.
Here's a chart, indicating the initial wedge pattern, which STRAT broke out of early but failed to make a new high, but created a parallel channel and trended downwards pretty accurately between channels as you can see. It has support at 0.0031 which is the base of that wedge pattern but it failed to gain momentum to make new highs, indicating that STRAT was slowly but steadily selling off. We will pretty much see sometime within the next 24 hours what direction STRAT goes.
Personally. I had the opportunity to get into STRAT at .0031 but didn't go for it as discipline should be the basis of all trades. I still think that STRAT will futher decline past the support, but no one can really know for sure.
![[Image: Screen_Shot_083.png]](https://preview.ibb.co/dQeNXa/Screen_Shot_083.png)
![[Image: Screen_Shot_105.png]](https://preview.ibb.co/mc7WQv/Screen_Shot_105.png)
![[Image: Screen_Shot_106.png]](https://preview.ibb.co/eyKLkv/Screen_Shot_106.png)
There was clear technical information that STRAT was going to retract from the huge price movement made over the past two weeks. Against all bets made by those who refused to believe that STRAT would break 0.0034, the trendlines of STRAT clearly show that it was on a downward trend.
My advice as of the 5th June was to get out of STRAT, breaking even just before BTC squeezed up and affected the altcoin market capital. Over the past few days we have seen STRAT decline in price, with support at 0.0031/30.
Based on predictions and charting that has been pretty accurate to date, either STRAT will reverse pretty soon (upwards) having now retracted to the end of a wedge pattern, or decline further down to 0.0028/25 which were previous highs earlier last week.
The factor that affects this the most is whether or not BTC recovers or continues to drop. It is not the case that if BTC drops, alt coins go up and vice versa. It is much more the case that both indicate market confidence and right now a lot of investors are waiting to see which direction prices go.
It is always the case that many traders will be looking to get in at the lowest price before the next gap up, however judging that is always the risk as we don't know what the bottom is.
Here's a chart, indicating the initial wedge pattern, which STRAT broke out of early but failed to make a new high, but created a parallel channel and trended downwards pretty accurately between channels as you can see. It has support at 0.0031 which is the base of that wedge pattern but it failed to gain momentum to make new highs, indicating that STRAT was slowly but steadily selling off. We will pretty much see sometime within the next 24 hours what direction STRAT goes.
Personally. I had the opportunity to get into STRAT at .0031 but didn't go for it as discipline should be the basis of all trades. I still think that STRAT will futher decline past the support, but no one can really know for sure.
ETH - 0x371b98dfe75cbc68eb88a1cb47388787fdb4223d
BTC - 1755Ve4tdVa7dhUDf85jzH7cYf48icRpLt
![[Image: V9cb4cS.png]](https://i.imgur.com/V9cb4cS.png)
