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Steem / Bitcoin

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STEEMBTC trade ideas

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.
Long
by bizi
STEEM/BTC - Potential repeating patternTo establish a pattern you require a minimum of 3 data points. Unfortunately, this TA does not meet that criteria so is nothing more than optimistic speculation. However, having a look at the graph I will let you make up your own mind. A similar pattern has occurred as the price has met the overall resistance (bottom of pitchfork) at which point there is a slight drop in the MACD and a rather high RSI. As the price breaks above the ichimoku cloud it begins to rocket, that it has the potential of doing very soon. As always, any questions or recommendations please post in the comments, and if you like what you see throw over a thumbs up!
by Bexanator