STEEM - The Support Line saved us... for this time
Hello all,
Here was my prediction of yesterday :
Unfortunately, the BTC did a drop which stopped also the UP of the STEEM
Here is the current chart :
As you can see, our support line was strong enough to stop the drop and we are using it to start a little UP. My objective of yesterday stays valid but we need to keep an eye on that support line. Any break of it will invalidate my objective.
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.
As a trader, I recommend you the trading platform Bitfinex
10% discount on your trading fees for 1 month via this link !
If BTC shows little bit of up-trend, STEEM's UP will continue and can break the ATH along with double top. However, BTC looks very dodgy and fragile, could see more correction. What do you think about BTC going up or down from $13500?
EDIT: BTC went down to $9200 and back to $12000. Wish I could trade $1M BTC at that time.
BTC is at a level where it's kinda stuck. It can't just go 30% up anymore. It's already pushing manning people out of the market.
I think it will be going down to shake off the weak investors. Then, the moon.
I think that it is about time STEEM and SBD to switch places. Probably at the moment when Steem gets more expensive than sbd, sbd will fall fast and ugly...
Steem will be going up to 10$ soon
Speaking of support lines, I'm surprised how well TA works with crypto currencies. Better than with manipulated stocks.
How nicely high in 2017 acted as support that has been tested after huge break out. Break out was on huge volume - bullish. Pull back and retest of the break out was on lighter volume - bullish again. This is nice bullish flag pattern.
Only missing from perfect picture was, yesterday there was no high volume on a break out attempt, signalling, this is not real break out.
Of course general trend will prevail, if everything start going down, so will Steem. But if crypto stabilize here, Steem could take off, setup is here :-)
It's just a matter of time, the power of the Steem blockchain and it's community can not be contained for long...
Steem is one of the few cryptocurrencies that is actually used every single day. It seems like most cryptocurrencies are based on concepts and ideas that are yet to be proved. The Steem concept has been proven and adoption is growing and growing. I enjoy the technical analysis but I think, on a fundamental level, there's no reason Steem shouldn't be a longterm play for most... (Just my opinion)
I would love to see Steem on Binance etc.!
Would like to see it on waveswallet.io also.
Nice post
Thank God the support line was strong enough, I hope it stays firm.
That was good. Thank you. At least your prediction gave me another opinion.