Here's where we're at.
We've been seeing a continual downward trend ever since the bullish run we had a few weeks ago. For the past 7 days we've been seeing the longs getting shaken out and some pretty strong selling. Past 48 hrs the decline has sharpened. But what is confusing about all of this is the real solid fundamentals of the coin. STRAT, from what I can gather, has a good road map and their wallet will be released shortly towards the end of the month. So that leaves us with two hypothesis. It'll either go up or go down. Haha.. ok but really. Let me explain.
Hypo 1:
The big boys come back in and drive price higher after release of news, road map updates and wallet release causing us to go higher and break through resistance. This to me is the most likely. With a lot of investments that I make in the crypto world fundamentals means a lot. If its a poor team developing a coin it'll just pump and dump. To me this one seems promising.
Hypo 2:
The selling continues as people get scared that bought in on the second big leg up. A lot of profits have already been taken off the table. If we break through .0022 it could get ugly and I wouldn't really go long until you've seen enough stabilization and a floor being set. If you're already long I'd hold. If you're considering buying I'd monitor this closely and see how much lower we're going to go. DO NOT GUESS THE BOTTOM.
Best of luck to everyone. This is for educational purposes only and the statements made should not be taken as fact.
We've been seeing a continual downward trend ever since the bullish run we had a few weeks ago. For the past 7 days we've been seeing the longs getting shaken out and some pretty strong selling. Past 48 hrs the decline has sharpened. But what is confusing about all of this is the real solid fundamentals of the coin. STRAT, from what I can gather, has a good road map and their wallet will be released shortly towards the end of the month. So that leaves us with two hypothesis. It'll either go up or go down. Haha.. ok but really. Let me explain.
Hypo 1:
The big boys come back in and drive price higher after release of news, road map updates and wallet release causing us to go higher and break through resistance. This to me is the most likely. With a lot of investments that I make in the crypto world fundamentals means a lot. If its a poor team developing a coin it'll just pump and dump. To me this one seems promising.
Hypo 2:
The selling continues as people get scared that bought in on the second big leg up. A lot of profits have already been taken off the table. If we break through .0022 it could get ugly and I wouldn't really go long until you've seen enough stabilization and a floor being set. If you're already long I'd hold. If you're considering buying I'd monitor this closely and see how much lower we're going to go. DO NOT GUESS THE BOTTOM.
Best of luck to everyone. This is for educational purposes only and the statements made should not be taken as fact.