As I was looking at the 2 hour STEEM chart on Poloniex, vague memories from my forex trading days surfaced. I thought I see a triple top (usually you identify a double top, but this time there are three peaks) a pattern which usually signals bearish behavior, but then I saw a double bottom, which, as you can imagine, should signal a bullish behavior.
At the moment of writing, the price was stuck in the middle.
Will it go up? Will it go down?
:)
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That's what younger TA's would probably call a cup and handle - made up of what more classical TA would describe as a rolling triple bottom (inverted H&S) followed by a rally and an ascending triangle, all with a very bullish looking volume pattern.
Everything on that chart is bullish. But that's still no guarantee. It's time I did an update. I'll try to post something on Thursday (tomorrow I won't have the time). Don't wait on me in the meantime though; if anyone isn't sure, just buy it! No better time than now, even if it were to go against the odds and go lower short term.
I think it will go down to 0.75 and then rockets high up to the Moon
I agree, it will go down further before it starts rocketing up
It feels like the steem hype train is heating up. SMT development is moving, steemfest got the whole community pumped, and the recent $20 million investment announcement for SMTs is huge news that suggests more long-term faith in our platform.
I can't predict the short term price... nobody can... but damn, it feels like we might have some really good times in 2018.
Yes. I feel the same way.
Good Analysis friend steem will go up but it may take time
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well that's a preety difficult question indeed but my mind says that the price will go up and should break that triple top, my words are not recommendations just the current situation tells that price might just go up and should break those resistance levels, thanks for sharing
Will it go up? Will it go down?
Yes
The only correct answer! :))))
Only time can tell :) I guess we won't see any surprising rise or drop until the introduction of SMTs, but who knows?
What must go up must come down... and it work the other way too 😂
:) ditto
It should go up...
All aboard the Hype train !!! :))
In short term steem has to go down to 0.1 to clean week hearted. Only after that it will go up to 10
where it is heading to :D