STORJ, H4, BuyMany of you when you see the chart coin up, then ask if it is uptrend or not. I would like to use the chart of medium-term STORJ as an example:
You can see on the chart that I paint STORJ is entering the support Buy pretty well, the buy zone in the bottom half of the blue box (area 36 - 39), the SL area under the purple line. After this buying cycle, the bull market will rebound to 5858, correcting the 4311 zone and ending at 73xx. Target price reached 117% of profit. The target price may be higher, we will update when the cycle 1 is accurate.
However, you can see that STORJ is still in the long-term downtrend. The rally in October is likely to be just a quick rally, and STORJ will continue to fall further to 95% below the 1000 sts. We are temporarily measuring the 308 zone. This will be the end point for the bear market and start a new rally.
That means that the market has not been uptrend, the market is correcting the increase in the medium term, the coin tends to return from 50-200% of the bottom created and then continue to decline. So you should be very alert, protect the account, raise the SL and keep the original transaction. Wish you successful trading!
