Hello guys,
today we update the analysis on STEEM.
On the previous post we wrote:
"On this chart is represents the spread STEEM/BTC (time frame hourly). The spread is in a bearish channel and the price sould collapse to 0.004 (the lower band). The bullish signal is only if moving averages cross each other and the ribbon will invert."
...Look what happen:
The price went down to the target @0.004, not far from the lower band. So... it's possible that the bearish market is over and in the next days we could see an uptrend. In this case the targets are: 0.0046 and 0.0049
We also look at 4 hour chart & standard oscillator...
All oscillators are oversold and confirm the chance for a new bullish market. Obviuosly we have to update in the next days... The market is the king... We're only a traders...
Have a good day & trading
;)
I hope it starts to trending back upward. I moved almost all my crypto into STEEM, I'm in it for the long haul so I shouldn't worry too much. I have serious faith in STEEMIT and the STEEM that comes with it. So NOW is a good time to support this with your crypto and help STEEMIT thrive! !!
Thanks for your response!
We agree with you... In the long term we trust on STEEM... In the short term it could be different because the volatility can impact on the prices... "Trend is your friend"... We prefer to buy when a technical signal is done. ;)
I hear ya! I'm hoping for a mass crossover myself. Thanks for keeping everyone dialed in!!!
I don't know much about technical analysis. Crypto markets have surprised me often enough that I've finally realized that you have to accept the limits of your knowledge, and the sometimes-random behavior of the markets. My personal strategy is ride Steem to the moon on its fundamentals without worrying so much about intraday signals.
Disclaimer: This isn't trading or investment advice; the price of Steem may go up, or it may go down. We developers are hoping for the Steem market cap to go up [1]. But it is impossible for us to promise that the market cap will move in any particular direction [2].
[1] This should be obvious.
[2] This should also be obvious.
Hi theoretical,
technical analysis is a good discipline for financial markets, maybe not for crypto markets. But the reason is obvious: crypto markets are too young... just for the moment...
Anyway the market capitalization is big:
1.BTC: $ 10,341,967,232
2.ETH: $ 1,077,882,026
3.STEEM: $ 272,989,799
By:
https://coinmarketcap.com/