STEEM - Testing the long term previous TOP
Hello all,
The STEEM is currently testing the long term previous TOP :
Till now, we haven't be able to stay upper than this previous TOP.
It can be normal to fail several time on this kind of TOP.
If we are not able to break it soon, we should see a correction happening. This correction should allow us to make a little pause and to attack again this previous TOP to try to break it.
If we are able to break it correctly, we should see the UP trending continuing and make a very nice new TOP before consolidating a little bit. I really hope for the all the STEEM user that this TOP will be broken soon but only the market will decide it...
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, 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.
Version française ici : [FR] STEEM - Nous sommes en train de tester le précédent sommet long terme
As a trader, I recommend you the trading platform Bitfinex
10% discount on your trading fees for 1 month via this link !
Thank you @cryptopassion for your analysis. It always helped me to predict.
Great analysis of Steem, I hope we see the continuing uptrend, what's your opinion on SBD?
SBD seems to me to be responsible for the quick increase of STEEM price. I am really hoping to see some relief in both's recent growth. I think SBD should normally be a long term hold, the 1$ USD peg is unsustainable. Personally I feel STEEM should be sitting at $2-2.5 and SBD at 5$.
I suggest changing the SBD peg to 2 or 3 to 1 STEEM instead of 1 SBD = 1 USD. This value should be more dynamic and should offer incentive to SBD holders, on occasion, to convert to STEEM when SDB value > PEG value.
Every one who believes in Steem is selling their SBD to buy more Steem. So we ourselves might be causing the increasing price of Steem.
i totally agree with you @mulletwang
what is the all-time Top?
The previois high was when bitcoin was hanging about 500$ but now it jas soared to 15000 and steem is still at the bottom in terms of btc value. So I think this usd level resistance will be broken easily.
Really nice break! Do you see any correlations in price swings with the price of Bitcoin?
Seems like it to me at least.
Source
You need to check out the other blogs of @cryptopassion. He does seperate articles about Bitcoin and BCH
Congratulations @cryptopassion, this post is the sixth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 46 and the total pending payments to posts in these categories was $3731.30. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Great post
thanks very good advice "do not invest more than you allow"
wow...its a great post..
keep it up
thank you @cryptopassion
What im seeing and is an opportunity. we have just started a new market cycle. If you use chartology methods you will see this happening across the board. Watch carefully for volume at the bottoms of previous cycles. GLTU
Yes bro we will break it that will happen☝☝☝