Today I will be sharing a technical chart analysis for the cryptocurrency StorJ (STORJ).
I am a day trader, and I look for signs in charts that make me, and all of my followers, a lot of money with little risk.
Looking at my list of coins to look at, after just going through a few of them, StorJ stood out.
First, I remember the name, which means that it had some really good support and action in the past. And then there’s the chart analysis, which is really what decides our next trade. The charts will tell us: Is this a profitable coin? Is it near its bottom or top? Is it good for beginners and experts a like? Well, let’s see. No, no wait, NOW, let’s trade.
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, we have a “stop loss” if things go south. 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
Buy-in: 0.00010000 – 0.00012710
(7) 0.00105320 (New all time high)
Note: Use the targets as reference points to sell when you want to take profits. Not all targets are meant to be reached. 100-300% is more than enough profit, and, consider starting to selling small amounts of your coins as soon as you are 30-50% above your own buy-in price. Just some quick suggestions.
- 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 at the time of posting, allows for massive growth.
- StorJ all time high happened on the 12th August 2017 @ 0.00070899.
- 0.00012720 Is the level where we will face our first major resistance.
- Invest only money that you can afford to lose.
- Don’t put all of your eggs in one basket; diversify.
- Tip the waiter.
My message to you
Today I went to the future, to see what it was like.
It was blue, it was green, no… It was LIGHT.
I loved the future but in the end I always come back.
Why is it that if we all want to be in the future, we always live in the present and can’t help but to think about the past?
Forget about the future, the future is the present because with the present we create.
So if you want to have a beautiful, rich future.
Start living it today.