BTC - 7600$ Touched - Correction already done ? - Let's continue?
Hello all,
Here is the chart of yesterday :
Here is the current chart :
What a fabulous UP today. We almost touched the 7600$ level today. We are now doing a correction but even the correction looks very healthy. We just touched the MMA13 which is a very usual pattern during a small consolidation/correction and the 2 next candles are showing already some new UP trends. Till now, I can say it to you, I don't see any weakness in the current UP trend.
I wish you massive profits,
Cryptopassion.io
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Retracement will soon set in
All I wanna do is buy buy buy
hehe be carefull keep some money for later also, we neevr know ;)
@cryptopassion, It's really pleasant picture to watch and hope that this uptrend will be continued. But unfortunate to see the fall of Steem Price. What is your opinion about the fall of Steem Price?
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Mmmmm I'm disapointed by the STEEM but when I think about it, it is quiet logic. We had no dev during years, Steemit inc just slept on their stake and now they are are trying to improve the dev but investors are not idiot. Next to that, we have a very high inflation and Steemit Inc again is seeling a big amount of STEEM every months. So all in all, we are not in a good position.
So rise of Steem-engine and Tokenised Ecosystem will improve the position over the period of time or? This is last question from my side, what's your opinion about this?
Thank you.
I personally don't agree with you here @cryptopassion.
I tend to believe that Steem is in a great position and that the only thing that is lacking is market sentiment.
Check the rankings for blockchain Dapps on sites like StateoftheDapps.com .. Steem is dominating.
I also disagree with your ideas about Steemit Inc. just "sitting on their Steem". They made mistakes and could have hired @elipowell as the CEO earlier but I still think they did fairly well and they successfully launched Hardfork 20 and changed the bandwidth allocation to Resource Credits.
While larger cap blockchains have focused on marketing campaigns to hype their market caps.. Steemit Inc. has focused on scaling and if you look closely, Steem is the only blockchain that has anything worth scaling.
Hehe so we won't be agree here.
Do you remember how the HF20 took place? All the people lost 1 week of voting power and they had in urgence to increase the bandwidth allocation to everybody because no one was able anymore to post. So to resume, this HF20 has been developped during months and months and has been porely tested in production... I don't call that at all a success and professionalism from STEEMIT INC which was spending at that time millions and millions of dollars...
Regarding the new CEO, what is the only action she took that you are proud about it or that you think was very positive for STEEM? She replaced Ned because many were complaining that he was not communicating enough and that new CEO is even communicating less... for me it is again a fail.
Now you are talking about some technical qualities of STEEM but do you think it is really what investors are looking? Look the BTC, this is one of coin the less advanced technically and look again the UP of today. I can give you lot and lot of coins which are less tech advanced than STEEM but have a better cap and are receiving investments each time the BTC is increasing because investors see value about that coin.
It is exactly the same for some brands, do you think Apple is doing the best material and the most tech advanced mobile and computer? Not at all but the value of the brand is high and so investors are there also. The value for STEEM currently is low and it is mainly due to all the mistakes did since years now by the main actor... STEEMIT INC.
The market is always the one true and the one who decides and if we don't have any investment currently means that we have a big problem. It is as simple as that. So for sure, when all the other altcoins will be overbought, we should see some investments in STEEM also but I won't call that a great position for STEEM.
Price swings & and short-term market fluctuations are based on hype and is often created in altcoins based on marketing budgets, but in the end, it takes a blockchain with a massive amount of use-cases and end-users to result in the long-term appreciation of a Dapp-based cryptocurrency.
It's possible that blockchains like Etherum or Tron could rework their blockchains enough to be able to scale and actually make use cases like Steem, but I tend to think that all of the other broad based blockchains that could replace Steem's position in terms of their being the number one blockchain for Dapp end-users, actually lack just as much in terms of real demand for their actual Dapps as Steemit Inc. lacks in marketing performance.
But I agree with the things you described as faults in the management of Steemit Inc. but I still think they performed better in terms of creating actual "end-users" for their Dapps than all of the other larger cap Dapp-based blockchains.
Having said that.. it's always possible that I am currently over-estimating Steemit Inc.'s and Steem's ability to remain the market leader in terms of end-users but I tend to think I am not.
Let's see and thank you for your TA insights 👍
I'm agree with your point of view also no worry. I'm not fully negative on STEEM. I'm just very critic about Steemit Inc because yeah I invested some capital in this blockchain and I'm not happy how they managed the things. But it is also partially my fault as I should have taken more info about them also before my investments. Next to Steemit Inc, STEEM stays a nice blockchain and I hope the past errors won't ruined this nice tech product ;)
If you take a more long-term approach to Technical Analysis it was somewhat obvious that Steem would fall from $1.00 USD + to $0.25 USD.
I was expecting it but started Dollar Cost Averaging at $0.79 USD. Having said that, I have some experience trading stocks that traded a lot like Steem, Bitcoin & Cryptocurrency in general.
Predicing the Steem crash ahead of time:
https://steemit.com/dlike/@chrisrice/head-and-shoulders-chart-pattern-steem
Predicting the current uptrend in Bitcoin ahead of time:
https://www.chrisrice.xyz/2019/03/the-bitcoin-bull-market-to-be-continued.html?m=1
Not yet.
Yeah correction not yet done but I think we are not far