STEEM - 0.34$ broken but we are staying around

in #steem5 years ago

Hello all,

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The BTC is doing a bounce from 10k but you know what? STEEM doesn't want do the same and is dropping... So yeah, technically, the support line at 0.34$ is broken. However we are staying just next to it and so it could be simply a little trap or not a real break of that line. Let's see if we will be able to be higher than this line in the coming hours.

I wish you massive profits,
Cryptopassion.io

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Legal Disclaimer : Never invest more than what you can afford to lose. I am not a financial advisor and the content in this article is not a financial advice. This post is for informational purposes only and provides only my personal opinion. It is important that you do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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Steem hasn't followed the moves of BTC for a long time.

Posted using Partiko Android

When STEEM is not following but is doing UP while BTC drop it is even better

On positive side, a cheaper steem means I can top up more my steem power, for future earnings.

Posted using Partiko iOS

Yeah I saw some people still have big expectation about STEEM so why not continue to stack

I think that STEEM start to be at a good price to stack again

"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...

Cg

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?

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