STORJ Target $6.65 (172% Profit Potential!!)

in #bitcoin7 years ago

SUMMARY

STORJ is very exciting as its currently in the process of the handle formation of the Cup & Handle pattern. The fact that it has not one but TWO cup & Handle pattern as fractals is a twofer for the bull run to come! Target is $6.65 as shown by the Elliott Waves and that represents 172% profit potential!

When the Storj/BTC pair reflects a similar pattern, then sentiment is aligned and ready to execute. What you should notice is that the STORJ/BTC pair is lagging the STORJ/USD pair and this is quite common because the /BTC pairs have two variables to overcome so as to rise in price. The first is the rate of rise of BTC itself and the second is that the rate of demand for STORJ must be higher than the rate of rise for BTC. These often cause the /BTC pairs to lag. But no matter, I'm targeting 0.001632 BTC for the initial run out of the second Cup & Handle pattern!

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**

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Very impressed with your chart work haejin. The cup and handle in STORJ/USD and STORJ/BTC is one of my favorite chart patterns, looks ready to go. I'd take a cup or two for myself

Do you think the pattern impacts the price of the coin MORE than the actual product they have? Just curious about this because it seems SIA has them beat on utility. It might be tough to move prices once they get much higher than $2-3 when there could be cheaper, better options. This might explain why STORJ has been "stuck." Just a thought. =o)

@j412i I think it depends on the particular coin we are talking about. Definitely have to keep the underlying fundamentals (actual product) in mind, especially when comparing to competitors like SIA. Both could see price growth given the growth potential for the crypto market cap, presumably with decentralized storage representing a notable portion of that potential future growth. The cup and handle pattern looks to me like a consolidation/accumulation, might be what STORJ needs to get "unstuck"... we shall see

I agree that it depends. I should have clarified that I was specifically talking about STORJ, which I followed for the last 2-3 months and ultimately decided to put my money on SIA. And you're right. We shall see. Maybe both will benefit as people become increasingly aware of alternatives to server based data storage.

I've always been a fan of diversification myself

STORJ is more expensive. So they can easily gain more people to provide storage space. The problem is getting more customers. I'll have to research their business models more. But Sia shot up like crazy, there will be some positive sentiment. Because of SIa's price increase, their service cost has also gone up. STORJ is also on Binance. That's a big plus.
https://www.reddit.com/r/storj/comments/7ommsh/why_would_i_use_storj/

@vimukthi The last I saw, STORJ wasn't even accepting its own coins as payment for storage. SIA was ahead of them in that regard so that's another factor I considered when dropping my $ into SIA. Obviously I could have split it 50/50 but didn't have the funds to do that.

Too bad I was out of both of them and went in on XVG, XLM, MCO, BTS
But those turned out well too. So I'm not complaining.

What about Siacoin? Seems like a more promising project to me..

i think sharing the mathematical model that you used to get this let's say patterns predictions will be great and can support what you are saying and i would love to see a comparison of your old posts with the actual market state to get sure that we can 50% trust your market analysis.

Evidence of performance is in my blogs. There is an independent eval of my calls and it's at 95%. I have no mathematical model.

okey @haejin then i will try to check it in my free time and i will see what we will get with #storj ;)

@HAEJIN has been the voice of calm and reason in a choppy turbulent crypto market...whether one has been investing for years...just starting off...a trader...a holder...a bit of both...it is very reassuring to see his regular posts providing various probable trends...each of us must decide what we do with his information...

He seems to have a knack to see trends...but as he says...trends are fickle...a probable direction today can be reversed tomorrow...he also likes to entertain and philosophise a bit with his postings...in a way i see him a bit like the local tv weatherman having some personality who does his best to interpret the fickle New England weather....you keep watching whether they get it right or not...

And whether it's pie in the sky talk or not....if any of his more grandeous price predictions come true...especially BTS...he will go down in blockchain history as the ultimate TA master....and if not...we will just assume the low pressure system won out over the high pressure system. And we'll keep watching regardless.

Your reputation is more important than a mathematical model. Thanks for all that you do.

Yo Haejin what happened to geocoin mate. Its not doing what u said it would bro. i put quite a bit in that one.

I am also in this trade and i think its going to be a longer hold than i had expected.

Awareness keeps the panic away, what abt alternate counts? Maybe you can try some and excercising. Best wishes.

Hi, I just started following you lately. Id love to see this eval....can I see a link?

so true . what do you think about Mint coin?

Thanks for another good update Haejin!

I don t think storj will break the resistance, it was always in this area;
let's see how it goes

That's possible. But there a large difference between possible and probable.

My dear friend your such Great posts about cryptocurrency I liked your working style I wish you will support me @haejin thank you

he follow and upvote I follow and upvote back

he follow and upvote I follow and upvote back

ohh thank ou my dear

very good analyses

I am amazed at how in-depth his analysis always is, and how accurate they all are. Sure, it might not always work (as it is impossible), but it shows how much he knows about the topic.

@haejin is my go-to source regarding what to keep eye on. I believe that he's as good as you can get.

Bro what do you think about BCPT ELF and EVX? They are look good right? Like a bomb

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