Both STEEM and HIVE just made a big move up.
This was completely unexpected and I do not like these huge moves because they are followed by big drops.
The volume has been crazy.
Searching for any news...
Both STEEM and HIVE just made a big move up.
This was completely unexpected and I do not like these huge moves because they are followed by big drops.
The volume has been crazy.
Searching for any news...
Aloha @stocksncrypto,
what we experience these days is still in the beginning of a longer lasting rally for both blockchains hive and steem.
On the picture you can see that the MA7 line has already crossed the MA25 on the 1Week chart of steem just as on the MACD showed by the green arrows.
Now the MA7 line just like the MA25 line need to cross the MA99 line on the 1 week chart (blue arrow) and to turn to the positive side of the MACD what means over the baseline at 0 (pink arrow).
Then you can expect an explosive increase of the Steem/BTC ratio. Potential to 0,0005-0,002 Steem/BTC. Hive will follow then.
What speaks against it is the StochRSI which is at the upper stop (yellow arrow) and therefore a correction is to be expected before the rally targets the next ATH.
The question is when is this moment.
It is possible that we can expect such a correction between april and june of this year followed by a final spurt to the next ATH one or two month after the correction.
Concerning Bitcoin it is possible that it is in the first third of the entire rally phase and in the worst case just before the end of the rally and a maximum value of under 100k dollars.
I hope it is the first possibility which means that the next ATH could reach something between 150K and 400K for BTC.
May the good be with you!
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