Fundamental Analysis and Background
Stratis has 2 Huge ICOs debuting in January/February. Smart contract solutions coming out by end of Q1 for .NET developers. Sidechains/swap abilities to debut before end of Q1 as well. Stratis Identity app awaiting approval by Apple App store – One of the first apps to debut on Apple’s store that will help you secure your digital identity (similar to Civic) will further cement stratis’s place as a top project with versatility spanning for ICO’s, development, digital security, and ease of use.
Technical Analysis
On the daily we see a lot of things are going for strat. If we look back at the last update I posted for strat we saw a high probability kumo kiss trade. (To recap quickly it means that price action had a high probability of reaching the top of the kumo after closing inside the bottom of it).
Right now we see Strat making its way towards the top of the kumo around 154k sat. A few bullish indicators lead me to believe strat will moon right through that resistance, however I am still going to set one profit target just beneath incase an exogenous factor prevents strat from breaking through.
MACD has a nice bullish crossover far above the signal line which leads me to believe this rocket ship is just igniting some reserve jet fuel for the next leg up. RSI teetering on overbought but given current momentum I think this is a nonissue.
The Tenkan-sen (blue conversion line for all those unfamiliar/new to TA) is ranging upwards which is a strong indicator that the current uptrend is gaining momentum. Furthermore, price action has broken through the kumo bullishly while the chikou span is the last green light Strat will need to make its way to new highs.
On the 4 Hour we see an impending bullish TK cross. MACD momentum gaining grown and an RSI that does not concern me. However, one should note that when price action is well above or below the Kijun-sen (yellow base line) it suggests that the asset is overbought/oversold and will eventually return close to the Kijun. This is one of the many reasons the cloud is one of the strongest solo indicators in technical analysis. With that said I will provide entries and exits for short and long-term traders.
Optimal Entry: 122k (61.8 fib) or 115k (hail mary bids on TK if BTC shakes us back down)
Likely Range: 122k – 132k
Optimal Profit: 280k+
Interim Targets: 153.5k, 190k, 230k, 253k
Stop/Loss: 96k (below hourly kumo for short term traders) OR 60k (below daily kumo as per last TA update)
Thank You
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