Steem chart review, May 14 @ 20:15 PST
Here is the weekly chart of Steem with a bollinger band and the 50 week moving average in blue.
As with most cryptos, Steem is volatile when it moves with parabolic spikes high with close to 100% retracements.
For the last decline, it appears that the 50 week ma provided support.
It currently has 2 red heikin ashi bars, but stochastics are heading higher.
I placed a fibonacci retracement on the daily chart to see if the price action would follow the support levels, but it does not seem to be completely correlated.
There is support at the 50 dma and stochastics have turned up from the oversold level.
The current trend may be up for the next several days.
A closer look at the daily chart with a bollinger band
It has printed 2 green heikin ashi bars for the potential start of a bullish trend.
This is a daily line chart of Steem in Blue, BTC in Red and ETH in Black.
BTC has major influence on the overall crypto market and most cryptos will typically follow the trend.
Steems marketcap is 862 M and sandwiched between these popular cryptos. (From Livecoinwatch)
Google trends for the search for Steemit is flat with Venezuela in the lead spot.
1 Million Steemit accounts is right around the corner at 997,017!
I looked at the pull down menu for Steemit and noticed that they now have a 'jobs' section. Looking for a job around the Austin, TX area? Steemit may have one for you...
Excelente muy bueno estos graficos que bueno estar al tanto de esto realmente disfruto tu publicacion amigo que bueno @glennolua
Nice steem chart review. Really good analysis. I appreciate your effort.good information provided. Thanks for sharing.
Hey nice to see you..and thank you so much for.your.update news..
Hope steem would skyrocket soon...
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