j0nesy1977.mj
Long

STEEMBTC - Is Steem Moving in Repeatable Patterns?

POLONIEX:STEEMBTC   STEEM / Bitcoin
I might be drawing a long bow here but I'm looking for good news. Is Steem moving in repeatable patterns over consistent time periods or "share stages"? Is there an upward trending symmetrical triangle forming? Am I dreaming of bygone era of bullish crypto trading?

I'll be monitoring for the next couple of days to see if it continues to trade within the triangle. If so I will set a buy-in and some targets.
Comment: Zoomed in and looking at 2hrly intervals we can see that trading has remained within the ascending triangle.

The broader market has recovered slightly and is consolidating somewhat. It is tempting to set targets now but I'm going to hold back as signals are not strong enough for me yet and market.

If it continues to remain within triangle I will set up a trade within the next 12-24 hrs.
Comment:
Comment: Seeing a few Bullish Dominant Candles and a weak Golden Cross. Lots of weak bull candles too - the bulls are cautiously returning the market.

I expect a slight upturn today but I don't think it has enough momentum to come close to testing the resistance line. I'll still be watching though.

Comment: Steem running out of steam? Perhaps, it's certainly testing the bottom of the triangle. But still hanging in there.
Comment:
Comment: Steem still hanging in there I'm still watching to see if it remains in the triangle. Should bounce off the bottom with the wider market. I'm going to keep this idea going.
Comment: I'm still watching steem as this idea still remains valid.

Comment: Still like this trade. Double bottom, golden cross and trading above EMA - all good signs. Need some volume. But still don't expect breakout until March.

Trade active: These are good enough signs for me to enter.

Entry - .0004 and 0.0005
Stop loss - 0.0003
Target 1 - .00079
Target 2 - .00089
Target 3 - .00099 (should hit 0.001 but psychology will set it)

Trade closed manually: This idea is no longer valid and it looks like a H&S is forming. I'm out.
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