Steem is Forming Bullish Flag | Scalp Trade Entry

in #bitcoin • 7 years ago

CryptoKraze Technical Analysis

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Hey folks, @cryptokraze here and I am going to cover technical analysis of Steem for Short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Steem.

Possibility on 1 Hour Chart

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If you look at 1 hour chart, you will see Steem has made an impulsive move and now it is forming a bullish flag. This is a very common pattern in cryptocurrencies, whenever a coin breaks with the big impulsive move, it pulls back and waits for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip close to 50 level now, so we have a pull back done and next impulsive move is ready.

  • I have a buy entry at 0.00023000 with my profit target around 0.00025500 or above.
  • Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts

Breaking Barriers with Steem Education Initiative

SEI Rewards System for Members | Post of the Day Promotion |

Averaging Technique in Crypto Trading

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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7 years ago in #bitcoin by
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     7 years ago  

    Thanks for information

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       7 years ago  

      i have seen BTC doing down for quite some time and its not able to recover and i am not sure it will recover or not.

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         7 years ago  

        Thanks for sharing Bitcoin i love your steem
        Very nice block Bitcoin
        I appreciate your news

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