STORJ/BTC - 30% PROFIT POTENTIAL!

STORJ has formed what could nearly be an ascending triangle, with a series of higher lows and nearly equidistant highs with a slight variation to the downside.

Now is not the time to buy into STORJ, unless volume really cuts loose here and we break to the upside out of this pattern. I don't see that happening now, I feel it's more likely, even with this impressive bullish candle that we pullback from here to gather even more momentum. You can just look at the period of consolidation, which generally measures to the size of the breakout. We can see, the longer the consolidation, the longer and more sustained the bullish movement is. There was very little consolidation for this current move, therefore it's destined to pullback in my eyes.

You can see we've ranged from the .618 to the .236 measuring the true high to the true low on this current pattern. I'm quite excited with this chart, I think this is a good one.

DMI negative momentum continues to fall, positive continues to grow and the trend is strengthening. The range is contracting, which will lead to a volatile spike, our stochastic is nearing oversold levels again. RSI does not confirm this, but it's the only indication we have that's slightly bearish. Recent price action and volume also strengthen the bullish case.

Potential targets upon the breakout are charted as our previous resistance levels, and from current price (which is higher then what our buy in will be) to the final target is 30% potential for profits. Patience, and choose your entrance wisely.