Steem pullback during hard timeThis is just my analysis. im not put any order or what so ever.
just to identify the market.
this time around is not a great time to go long on alt.
until price for btc is clearly put it sign. UP or DOWN.
becourse trend on bitcoin now more to short.
#cryptotraininganalysis
STEEMBTC trade ideas
STEEM - Long term wedge breakout pending - BUY SIGNAL Higher lows forming within the long term wedge, have tested the resistance twice. Also some rumours starting to stir that STEEM might be getting listed on bithumb soon.
STEEM
Buy - 39k down to 28k
Short term targets -
42k
46k
50k
57K
Mid term targets -
63k
76k
91k
Buy And Sell Calls For Steem/BTCSteem is a currency that can fluctuate wildly. From a TA perspective its been fairly predictable since the large price swing we saw previously.
Heres how to play it. If you are in the money and waiting - keep waiting - until about 0.00023000 - it may dip a bit lower than this but this is a could place to setup tent.
The first target sale could take place at 0.0002600 or possibly higher.
This is my own analysis using techniques that have been consistent for me. These idea are not financial advice - do your own research before investing!
$STEEM PotentialTrades are all a little riskier now with BTC in a danger zone. If you are trading alts, you should have charted BTC first and have alerts set on it.
STEEM has been moving up, and the last increase was even druing a BTC decline.
1. Touching daily, longer term trend line.
2. On the .618 fib retracement of the move up.
3. The RSI is the same as the last 3 bounces off the trendline.
4. There is a history of support/resistance at this price.
5. SL will be set under the last swing low.
FULL $STEEM AHEAD!!!
Weekly
Looking at our highest timeframe we see price has bounced off our support zone 30000. Stochastic RSI showing momentum is heading towards the upside. Higher low has been formed, however we have failed to form a higher high. Price has pierced our ascending triangle, expecting a weekly close above 41000 within in the next week.
Daily
Shifting to our pattern timeframe we see price bouncing off our major support zone 30000, and respecting our uptrend. We have closed above our minor resistance level @ 37000, trade active. Stochastic RSI showing momentum is heading towards the upside. Next entry daily close above 41000 satoshis
Conclusion
* Buy: After daily close above 41000
* Sell: NO NO NO
SteemMessy but I saw a trend where after first run there was approx 3-4% higher high after second run and approx 2% higher high on third run so after drawing fibs on the first 2 runs I worked on a pullback to the trend line and expecting a new higher high by approx 3% which coincides with the 4Hr Res. I was late to enter as I was sleeping but am watching like an eagle today.
