CRYPTO NEWS : #STORJ 11 05 2018

in #crypto6 years ago

#STORJ

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Today We will be sharing a technical chart analysis for the cryptocurrency Storj (STORJ).

https://www.binance.com/trade.html?symbol=STORJ_BTC

Looking at my list of coins to look at, after just going through a few of them, StorJ stood out.

The breakout already happened for StorJ, so we are not that close to the bottom, we are actually in consolidation right now, but that’s no big deal, Also, StorJ has been holding really strong after reaching its high after its breakout a few days ago.

So let’s look at this coin with an open and calmed mind, relaxed heart before taking a few deep breath… Ok, again, let’s get started… Now, let’s trade.

Storj technical analysis

Target:

(1) 0.00015300
(2) 0.00016250
(3) 0.00017220

Chart ANALYSIS

  • StorJ daily chart is in the positive, but there aren’t many bullish signals other than a strong breakout a few days ago. What we want to focus on, is longer term, more profits in the longer term. The weekly chart.
  • StorJ started a new positive uptrend last week, and took this week for consolidation which ends on Sunday, end of year. For the new year, depending on how this week closes, StorJ is set to give us some very strong positive action.
  • The RSI indicator allows room for massive growth on the weekly chart. And the STOCH is trending positive. The MACD does not have enough data for this coin, it launched around July 2017 on Bittrex.
  • On the shorter time frames, 1h, 2h and 4h chart, there is a lot of bullish sentiment. This sentiment is shared throughout all the indicators that I use, which can give us the positive close we are looking for week / year, and then manifest a strong trading week at the beginning of 2018 and beyond. These are a lot of “ifs”, but the charts are showing signs of strength and positive action in the future, way, way more than any bearish tone.
  • Low volume , around 225 Bitcoins 0.52% at the time of posting, allows for massive growth.
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