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STEEMBTC trade ideas

STEEMBTC - Entering possible buy-in zoneSTEEMBTC is a pretty great coin because when it moves, boy does it move. Managed to pull in two 20% trades in the last 2 weeks! It had a clear 5 wave structure complete on April 27th peaking at 0.000504, and has been undergoing a clear ABC wave down, currently sitting at 0.000386. I marked off the area where I think it will finish it's correction based on ratios of 1-1 ratios of A-C, and it's already had a dip into that area earlier today. There was a big spike in volume that coincided with that time, so I think that may have been our capitulation benchmark. RSI, MacD and Stochastics all show the potential for this to go a bit lower (no clear bullish divergence anywhere that I can spot), so I don't think it's totally done correcting - but I think it will be soon. It likely won't get any lower than 0.000346, but you never know sometimes. It may not even get that far, preferring to stay around the 0.000367 area. If it hits that point and starts going up, we likely just saw a double bottom. Anyways, watch this one closely because when it decides to go up, I think we could see some really huge gains. Over the month of april it went from a low of 0.0002 to a high of 0.0005. So the next wave is likely to take it to as high as 0.00084 ~ (0.0005-0.0002)x1.618 + 0.00036. Good luck!
by RobinG
Is there any incoming breakout on STEEM?I have been observing STEEM/BTC for a few days, the candles shows interesting findings. First of all, sorry for the messy chart. Horizontal cyan lines are actually support/resistance levels which I draw one by one in 1hr and 4hr timeframe. I find it comfortable to know where the candles might halt or retrace in the future down to whichever price levels I must anticipate, whether it is minor or major support/resistance line. Drawing resistance/support lines also make me avoid overfitting the data and may lead to misleading projection. After reversing its trend to bull rally in early April, STEEM continues making its price spike several times due to of course speculative actions. Bullish rally can be identified by yellow diagonal lines spanning from lower left to upper right. Line A shows the lower low trend and line B shows upper low trend. Distance between A and B means some kind of safe zone where candles that retrace into it are considered still on the trend, but if it breaks beyond line A, then I will start to worry if bull run is over. Another line which I draw is line C, D and E which are alternating diagonal lines to show the flag pattern. Right after the flag pattern ends, candles were breaking upwards just besides line C and D. Now, the interesting part is that if you notice the price of Spike 1, 2 and 3, there is a distance between them that upholds almost equally in both between spike 1 and 2 and between spike 2 and 3. By seeing multiple breakouts in multiple coins in April, I dont know if there will be another breakout in the future for STEEM, but I would say if there is one, the spike will hit resistance level at around 4330-5950 satoshi. Another thing to consider is that since I use short timeframe for this analysis (4hr), it is worth to mention about short term retractement signal which may have been found, which is the pendants as shown in green triangles. Pendants indicating approaching breakouts tend to show volume increases in the beginning and gradually decays until the tip. If you see the MFI, I am afraid that the volume is really cooling down right now as the books explained. I am no foreseer, but I would say there might be a breakout after the pendant ends. Conditions of the most recent candle (4hr timeframe): 1) Touching the support level (cyan horizontal line), well...one of them 2) Is around the base of the pendant (I would expect to retract upward at any moment) 3) Approaching the tip of the pendant 4) MFI is low (low volume) 5) RSX (RSI modified by Lazybear) shows buy signal 6) Slow EMA is about to cross faster EMA (shown below). If all slow EMA has crossed faster EMA, this would normally mean a death cross, but similar crossing action is seen just right before the breakout, so..who knows? Hope for the best!
Long
by istifajar.he
Are you ready for pump a dump STEEM party?!!Just in this moment looks like we are having wave E of BTC, we could have a massive short drop of the altcoins, if this is the case im ALL IN with STEEM and i'll be wake up all night looking for pumps and dumps of this crypto, if this is the case, 30%+ of gains could change to 60%+ or 90%+. This gambles could worth every single minute and short term risk. If we look at the history of this coin, this is the pattern to follow. Looking for R1 right out of the channel, low volume but at looks like this is what every people are waiting for to jump inmediately to it.
Short
by gamagg
(April 25, 2018) (STEEM/BTC)WHY ? 3 days in an uptrend, above all EMA's including 200 ema , rebouncing from strong support with high relative volume . Good risk reward of 1.2 and social sentiment. Great news coming up April 26: "The event will be a brief introduction to the meetup group + Graphene projects, followed by a networking and discussion session" and May 14: "CoinDesk is proud to present our 4th annual blockchain technology summit, May 14-16, 2018 at the New York Hilton 3.78% Midtown." Signals Entry 0.000396 (wait price to reach this level) StopLoss 0.000367 Rating 3.5/5 Profit goals1: 0.000415 (Take 50%) Profit goals2: 0.000438 (Take 25%) Profit goals3: 0.000457 (Take 25%) When T1 reached: New Stop loss for remaining position moves to 0.000377 When T2 reached: New Stop loss for remaining position is entry point 0.000396
Long
by KarySah
Steem Getting Ready for a Breakout.Hey, I am back with another Trade Idea , this time looking At Steem. Steem is a Coin at rank 26, that is being used to buy Steem Power on steemit. That means Steem Coin has a real usage , which just adds to Value of this Coin. Steem power is provided by the number of coins not by the value of coin, which is good for the price. Okay, that was short Fundamental, now lets take a look at Chart . On the Chart, you can see that rounding bottom pattern is forming. Steem can have trouble breaking 46,000 sat which would lead to Cup and Handle breakout Pattern. Green Line - Support, Red - Ressistance. Taking look at Indicators . MACD giving buy signal, with few buyers coming not much sellers can be seen. RSI has found its support and ressistance which is great! Currently in Extra bullish mode. Volume is Really Low compared to Februar Volume, which can lead to huge breakout. I guess thats about it, I like to keep it Simple. Hope I made your view on whats going on with Steem somehow clearer. If you like this TA let me know in the comments, Likes are aprreciated, Thanks ! If this gets a little bit of attention, I will update!
by TiborVrbovsky
5
STEEM: NEW DEVELOPMENTS = 42.20% PROFIT!!!Our "Crypto Bottom" Trade Indicator has correctly identified a buy in point on the 25th of April 2018. Using this buy in point and selling at today's price, you would have expected to net 42.20% PROFIT!!! The increase in price may also be explained by positive developments including: January 1-30: Steemit announces partnership with Datawallet allows creators on the Steemit platform to monetise their content. February 2: STEEM is listed on Binance. February 18 : Steem AppBase release candidate is released. April 10: Positive Article was released by Businessweek which stated that Facebook and Youtube were losing creators to blockchain powered social networks like Steemit and Dtube. Steemit has become an open competitor to Facebook a ($462.38 Billion company). This has article has provided mainstream exposure to Steemit. April 26: Positive Article from Forbes which covers the rise of blockchain powered social networks like Steemit. This has article has provided mainstream exposure to Steemit. (NEW) April 28: STEEM is released for trading on Huobi. This has led to substantial spike in volume. An increase is trading volume is driven by Korean Exchange Upbit accounting for 65.79% (up from 59.52% a couple of day earlier) of all exchange volume . Furthermore, positive hype around Steemit as a possible competitor to Facebook (in light of privacy breaches) is likely to have triggered a surge in price for STEEM.
by CryptoTradeSignals
STEEMBTC - Appears to be on Wave C of corrective phase.Steem BTC had a heck of a run from 0.0002 on April 1st, peaking around 0.000497 April 25th. Glad I had the good fortune to ride most of wave 5 to pocket a 30% return. But now it seems to be in a corrective phase. Evidence for it's corrective phase can be seen on the 1 Hour chart (less so 4 hour) as the "A wave" correction cut back into the Wave 3 height. Which had an incredible spike. Wave 5 hit roughly the 0.786 line from the peak of Wave 3, and then bounced off pretty hard and has been falling since then. If the Wave A bottom is in (I think so) then using fib tools projects a Wave C landing spot around 0.00038 (at least) before it's finished correcting. Could easily drop to 0.00034 or even lower. Now it's possible that waves ABC are already in (look at 15 min chart to see a questionable ABC pattern on the way down) to form a zig-zag, but it also seems clear from the slowly ascending pattern forming right now that it's not your typical impulse wave. So I'm guessing that IF the ABC zig zag is in, we're having a double ABC in the form of a zig zag and then some kind of ascending flat following it. Give then the 5 wave impulse up took 3 weeks to form, it seems likely that a corrective pattern could take as long as 2 weeks to play out. This one looks super juicy though, as it's 1st "Major" impulse wave up increase it's value by nearly 150%, so the next impulse wave up should be quite exciting. I'm of the opinion however it needs at least a few days to cool off before it makes another major push up. Could be wrong though!
Short
by RobinG