Steem (Cryptocurrency)
STEEMBTC MARKET REVIEWSTEEM is on a clear downtrend, however, support has been tested several times over 0.00036.
This triangle can also be seen as a Downtrend triangle, however, BTCUSD plunges have not affected severely the STEEMBTC pair.
This might become an option if BTC price hits new lows over the next couple of days.
Steem finding bids against BitcoinNot only did Steem hold it's value against Bitcoin like we were hoping for last week (see steemit.com/@bulleth), it also put in a half-decent rally on Saturday and is back inside the falling channel. Struggling with resistance in the 60-67 zone now, a break higher would target 75. Technically, we have the makings of a head and shoulders reversal pattern here (neckline in the mid 30s - dotted), but at this stage in the coin's life, I am tempted to ignore it. Valid sell signal doesn't occur til a neckline breach anyway.
Steem Buy only after Break of R1 with possible strong waveSteem
R1 level has
1. 20 EMA line
2. Previous support level is broken then retested couple of times
3. Also our resistance trend line in red
Because how many different factors are in play, I would suggest buy after a breakout.
I would expect possible strong pump afterwards
So possible scenario from here is test of resistance
accumulation above the .00050 level
then break out
Stop loss would be a break below the green support trend line
Solid project
for short term trading purposes suggested trade would be a break out of R1 with a target of R 2
Long term trading targets goes around the 8s so go with .00078 , .00088 and .00098 for now
Please do your own research
BEST OF LUCK EVERYONE
Steem/BTC - Does it still have some STEEM left?Just having fun tossing as many colors on the chart as physically possible..
I literally have no idea what any of it means... (lol, jk...kinda!)
Just having fun and learning a few things as I go... If you have some tips or tricks let me know..
Steem went up today and I think there will be a retracement before it's next big move up.
Let me know your prediction for STEEM below...Charts and/or knowledge that help the crypto community especially appreciated and always welcome!!
STEEM : Ready to test resistance !! There is some resistance for steem at 55000 sats ! if we see it push through this it could set a new trend line which could push it up through to 60000 sats ...
if not we could see this moving to a crucial point in the next few days...
keep your eyes on this one !
Cryptocurrencies have a entered multi-month correctionThe Cryptocurrencies had a spectacular run in the last couple of months. But since mid of June they all moved into a rather nasty correction. Bitcoin went below 2,000 USD already while Ethereum lost more than 65% in six weeks. Yet they are oversold and getting interesting again.
I have been buying IOTA over the last couple of days. It´s up 52% today :-) ! As well I continue to like DASH and STEEM and I have been buying into recent weakness. However it is rather difficult to come up with a decent risk/reward-ratio at the moment. There is no need to rush.
Overall the cryptocurrencies have very likely moved into a multi-month correction. So you will need to have a lot of patience and must be very careful with your buying orders. I don't think that the bubble has burst instead this is just another healthy and necessary correction within this great crypto bull market. But it will take time. Most of the weekly charts are not yet oversold. So there is more downside or at least sideways action to expect.
Buy BITCOIN below 1.800 USD, Stop loss 950 USD
Buy DASH below 120.00 USD, no stop
Buy STEEM below 1.00 USD, no stop
Timeframe 6-12 months
Don´t put more than a maximum of 5% of your networth into cryptocurrencies and only use money you can afford to loose.
STEEMBTC Long Investment Opportunity - 15 July 2017I love the Steemit Community and for this reason I believe Steemit and Steem Coin will revolutionize social media content marketing and lifestyle design.
I believe Steemit will be competing with the giants in a few years.
Fundamental Commentary
This new fork in BTC being launched from AUG 1 2017 will cause a lot of volatility so this may help my trading idea work.
Tips
I recommend selling your BTC for ETH and waiting a few weeks until the dust settles.
Take your coin out of exchanges and into cold storage
Enjoy the show
Rodrigo Antonio
Steem Investment Opportunity - July 15 2017Today I am using STEEMETH to illustrate a potential long investing opportunity.
We have multiple areas of resistance that I believe will be broken in due course.
You can find me on Steemit as pipalchemy :)
Enjoy the show!
Rodrigo Antonio
STEEM Falling WedgeLooks like a falling wedge. Price is bearish at the moment, so i think it will move along the channel, and later this month or august we will see a breakout. Look for entry closer to the end of the wedge.
There's a lot of uncertainty right now with the Bitcoin Aug.1 announcement that will likely affect altcoins.
We are in risky times, so be careful making trades.
When in doubt... HODL
STEEM bounce off trend lineSTEEM looks like it could bounce off the upward trend line and continue the pattern from the previous pumps. The amount of gains from each pump has decreased each time, so based on a rough guess I'm expecting around 75% or 111k sat at the peak. DMI just crossed over and MACD is about to turn bullish on the 1D charts.
Potential STEEM/BTC TradeLooking like a great long trade here for STEEM/BTC. Coming into a corrective elliot wave phase. This is supported by a potential Bollinger bounce. We can also see it's just hit that trend line nicely and RSI shows it could be slightly oversold. I've placed a sell order at .0007 and a stop loss at .000565
Just started out with TA so any feedback or advice you could give would be great :)
LONG on STEEM/BTC, SOLID 8:1 risk reward ratioThis chart looks really good to me, hopefully we can catch an entry at 0.00064125, if we do, we could see potential jump and solid exit points. Ichimoku cloud acts as a strong support, and also this line was tested previously and had a strong buy support and a quick rejection whenever it was passed. Stop loss has been set just in case, because I think trend wont recover if it goes 10% below the support line.
The way we exit according to the chart is to see if we pass Exit1 and based on RSI and MACD we make conclusion that momentum is still moving us up, if we for instance hit Exit2, and have a strong pullback towards Exit1, we should get out of our position. Ideally, we will reach Exit3.
The rise of the Steem Backed Dollar? SBDBTCFundamentals: Good dev team, been around long, growing user base, lots of real world applications for the currencies, therefore lots of liquidity and good distribution
Uncertainties: Not sure about the inflation model of the steemit platform, and how this affects the value of SBD. Also, Bitcoin rising in the near future could certainly hurt the SBDBTC pair
STEEM repeating same breakout cycle for third time?(Looks like the bottom line shifted before I publish couple seconds ago, dark green line goes under today's 7/4 daily candle. Rest is the same.)
Haven't followed $STEEM much, but these fractals are quite telling..
Pullback to line before next candle up?
Steem Weekly chart
Price action bullish
price correction
Brakes applied on the fall and now accelerating again
finding lower line and moving on
volumes are picking up on the daily chart if that continues next leg up is not here yet
Lots of attention as evident by the number of posts about it on trading view
on the other side, we might want to test the 65 mark one more time
Steem/BTC about to Steem harder Steem looks like ready for a third round
On the chart look at closings above the 2 upper green lines (672 and 775) for bigger upward movements
Some resistance at 7289
Targets:
775
899
100k
New ATH to be mentionned if this scenario turns out to be correct
My analysis is also based on the 2 previous patterns which indicate that clearly if things don't go wrong steem is going to follow the same pattern again.