AI YAI YAI !! STEEM PRICE GOT BURNED TESTING THE "A" TRENDLINE
Hello world, hola Steemians.
Steem price got burned testing the black "A" trendline at 0.450 $.
About the "A" trendline, is a strong one, considering has 3 points of contact
(n1-11th July 2016, n2- 05th of June 2017 and n3- 01st of April 2019, was also the neck of a double top pattern on 26th of March 2018).
Is also important notice the price is having difficulties to break the 50 and 200 Moving Average lines, violet line 50 MA and orange line 200 MA (check are together now)
To choose the moment to buy more steem , in my opinion I will prefer the price breaks both ("A" trendline and 50 and
200 MA. Wait for a double floor pattern would be a good indication to consider that possibility.
You can see that checking the weekly chart (below).
Remember to watch always the big picture of the price, contemplate the beauty of the Mona Lisa painting is so hard if you just watch her nose.
Until the price does not break the "A" trendline we can not say the change of trend is a fact
Patience is the mother of all skills - Steem is our choice , keep supporting!
"Sharing technical analysis principles and keep interacting with you about Steem and Bitcoin markets behavior are the purposes of this blog.
*This is not a financial advice, is just my personal opinion."
O M G ! !
S E L L ! ! S E L L ! ! : )
Price is still consolidating, that's fine! Talk about real change of trend price needs to break "A" trendline.
Well, come on Steem! Break that A! :)
Lets keep our fingers crossed.
Exactly!!! Steem is our choice, keep supporting!!!
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