Warning !!! November Can Be Really Bad For Stratis (STRAT)

 

Hey friends, hope you are well and welcome to the new update on Stratis coin.

Previously I posted an article where I told you that the Stratis with Bitcoin pair is forming a bullish Shark and soon the final leg will be completed. Below was the post:

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Finally, the leg completed and the priceline started a bullish move from the potential reversal zone and produced a more than 44% rally.

 

 

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Down channel:

Now if we take a look at the daily chart then the priceline is moving in a down channel and after hitting the resistance it has again moved at the support of this channel.

 

The Ichimoku cloud is putting more pressure:

Now here I have placed the Ichimoku cloud then it can be observed that the price action has broken down the cloud and the lagging span has also crossed down the candlesticks. The conversion line has formed a bear cross with the baseline. Now the bearish cloud is putting more pressure on the candlesticks.

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A harmonic Butterfly move:

Now if you take a look at the weekly chart then the price action of the STRAT coin is completing the final leg of the bullish butterfly and soon it can enter in potential reversal zone. As per the Fibonacci sequence of this pattern, the potential reversal zone starts from 0.00001764 to 0.00000041 btc. And Fibonacci projection or sell zone is: 0.00003100 to 0.00006365 btc.

 

A harmonic Shark move:

And if we take a look at the Stratis with US Dollar market then on the long-term weekly chart the price action is completing the final leg of bullish Shark. And the potential reversal zone of this Shark move starts from $0.1879 to $0.0359 and the Fibonacci projection or sell zone is: $0.3167 to $0.6145.

 

The buying ranges are too wide, What we should do ???

Now if you observe the potential reversal zones of both patterns (in the USD market and in the Bitcoin market) then these levels are too much wide. Therefore, I have placed the volume profile on the complete price actions moving within these patterns. And the volume profile is showing no interest of the traders in the potential reversal zone of butterfly pattern and weak interest of traders up to potential reversal zone of bullish Shark pattern in the US Dollar market. Therefore in the long term, we can wait for the completion of these legs and when the price action will be entered in these buying levels then we should use different indicators and strategies to find the best buying position within these potential reversal zones. In my point of view, the price action will not move up to the end of PRZ levels rather it can just hit the spikes in these potential reversal zones and move up to hit the Fibonacci projections or sell zones as mentioned above.

 

Conclusion:

As all legs of these harmonic patterns are driven quite well therefore there is a strong possibility that the final legs of these patterns will be completed. However, in the short, and mid-term we may have different buying or bullish opportunities. But in the long-term after the completion of these legs, we can witness a strong wave to the upside and the people who will buy Stratis from these PRZ levels will earn the real big money.

 

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