General consensus on STEEM is that it is a turd of a coin-- a sentiment I share. However, the market rules-- supply and demand trump any perceptions.
STEEM is completing a solid cup & handle pattern. This presents a nice opportunity with a risk/reward ration of 1:18.
Bitcoin's increasing value may extend this handle out for quite some time so I don't expect an...
We've seen this kind of panicky volatile bottom forming on other chains (ETH, XMR,..) which turned out to be huge profit makers. Higher volume confirms this.
We are looking for entries in the red region, where there is support from local highs and various MA's.
Steem makes an interesting addition to our portfolio, since we have not yet invested in "social media coins".
Steem look very strong since Bitcoin loss power theses days, we have a perfect ascending triangle, in 240TF 120TF the fundamentals show me a pretty sign of trendup.
December 6th release and news on Steem, im optimist with this coin.
First resistance= 0.00038580
If this resistance break = ?
Good trade.
I think we will se a break out from the downtrend very soon.
Steem already fall from 384 million Market cap to 24 million market cap!
I expect a huge break out.
The Bullish AB=CD pattern has completed and price is finding support at the "Fibonacci Support Cluster 2" on my chart.
RSI is oversold and turning up.
Also, we have hit the bottom trend line of the descending channel where we may have found support.
In case you are wondering, I erased the "Fibonacci Support Cluster 1" because it is no longer relevant....
This is a continuation of my analysis on the STEEMBTC pair on the 120 minute timeframe. Please see below for previous analysis on this pair.
After Looking at the STEEM/BTC pair I realized I was too premature in my entry last night and should have been more patient and waited for the Deep Crab to fully complete and for price to test all levels of the PRZ before...
Steem shows an interesting chart pattern.
Divergence spotted on rsi low and rsi high. Trendline broken. Old resistance to support.
Waiting to break the horizontal resistance to buy in. Perfect would be a inverse head and shoulders before.
Cant say much about fundamentals, comments welcome :-)
The STEEM currency has come under a lot of attention lately with the social network SteemIT and paying content creators. There's some speculation that the Whales are "Powering Down" and running for the door. What do you think?
After price retested the PRZ and support held I have re entered my long position.
I am looking for a Type 2 reaction here.
Looks like a nice triple bottom as formed too.
Entry: 0.00332
Stop Loss: 0.00305
Target 1: 0.0049
Target 2: 0.0059
The harmonic pattern has completed and price has consolidated nicely in this range.
It appears a triple bottom may have formed which is another case to go long.
A triangle has formed and is coming to an end soon so there is bound to be some moves soon in either direction.
All targets, entry, and and stop loss are shown on the chart.
This SteemIT platform for rewarding content creation is growing. While there are
STEEM
STEEM POWER
STEEM DOLLARS
No one holds STEEM. You can use STEEM to gain Steem Power which if I'm a company or brand or "Whale" that would be a reason to but STEEM.
Thoughts?
