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RE: STEEM - 0.34$ broken but we are staying around
"support lines" are an arbitrary thing that mean nothing. You can draw all the lines and triangles you like on a chart, however there is no way of predicting what Steem will do, unless millions of people join Steemit of course!
There is too much Steem being produced each day (1.2 million) so it is devaluing each and every day.
Oh well...
So I'm making money every days with arbitrary things which means nothing :p
Support lines and resistance lines are simple but mostly used as indicator by so many traders... so nope they are not arbitrary at all. Don't judge technics if you don't use them or don't know how to use them. I prefer you say TA is arbitrary in that case but all the bots which are trading are using TA as this is the only way to program them, so again in that case, for me it is not arbitrary technic at all.
Sorry I didn't mean to sound so harsh.
What are TA's? I didn't mention them...
Maybe I'm wrong, but it seems that this stuff works with real world stocks and shares. Everytime I read one of these analysis about cryptos it says stuff like "BTC could go up/or down".
Anyway I'm glad you're making money, maybe Steem will boost again, and I hope it does. However I don't see it, no matter what the charts say.
Cg
TA means technical analysis and it is working for stock, shares and crypto also as it isis analysing the behavior of people which is the same for the trading of everything. Regarding STEEM, I never said TA is saying STEEM will go up, it is quiet the oposite but we all try to stay positive.
So still not convince of the use of TA and resistances line?