STEEM: we should have hit the bottom already...

in #investing • 5 years ago (edited)


yep, I know what you think right now... this may be just another post trying to bring positive vibes on our beloved STEEM... but definitely, no matter which pair you check right now compared with STEEM, all of them are showing signs of reversal according to a DIVERGENCE on the Daily RSI.

For me the most important currently is to compare STEEM vs BITCOIN on the daily chart and this is what we see today:

During one month STEEM has been ranging between 1550 and 1800 Satoshis, with a light descending trend in overall but with a clear divergence on the RSI

Same is happening if you compare the second most important pair, STEEM vs ETHEREUM:

...and also STEEM vs BINANCE COIN:

The conclusion that I get by observing these three charts and respective divergences on RSI is that STEEM is timidly getting stronger in front of their competitors. worth to say that just around one month ago, STEEM was placed on the 88th position of the Total Market Cap....

... while today, even if the total cap of STEEM has decreased since then, we can see STEEM at the 79th and sometimes reaching below that place:

We can also see that change of trendline if we compare STEEM vs USD:

The price of STEEM is ranging between 0.16 and 0.19 USD since weeks already, RSI is also behaving very similar to the other pairs but, of course, the way the price is decreasing here, in USD, depends at the 95% I would say, to what is going to do BITCOIN in the coming days...

If BTC falls, which is very likely according to my expectations, the complete altcoin market will suffer another hit versus the dollar, included STEEM as well...

...the only thing different here is that STEEM may have reached its bottom versus BITCOIN while others not...

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Published by toofasteddie
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https://mentormarket.io/cryptocurrencies/toofasteddie/steem-we-should-have-hit-the-bottom-already/

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5 years ago in #investing by
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    • [-]
     5 years ago 

    Good explanation

    [-]
     5 years ago 

    Thanks mate, hope the forecast gets triggered...
    Steem on! And !BEER for you!

    [-]
     5 years ago 

    To view or trade BEER go to steem-engine.



    Hey @dobartim, here is your BEER token. Enjoy it!

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      [-]
       5 years ago (edited)

      Excellent observations and very appreciated.

      Your hypothesis is logical.

      Also, I'm here; coincidental correlation? Heck no! 😂

      [-]
       5 years ago 

      To view or trade BEER go to steem-engine.



      Hey @anaclark, here is your BEER token. Enjoy it!

      $0.00
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        [-]
         5 years ago 

        Would be great if we did hit rock bottom. But we all know that there is always a bottom below rock bottom. And that bottom is 0!
        But let's be positive and bring back steem in the top 50 of CMC!

        Cheers,
        Peter

        [-]
         5 years ago 

        We have to be always positive man!

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          [-]
           5 years ago 

          Hi @toofasteddie!

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