STEEM did it in textbook style today, pinning through very important horizontal support and successfully backtesting the former downtrend line, giving it a touch and then rallying more than 30% up into the top half of the day’s range to regain and close above the rising 55 DMA!
Job well done!
And the trend-momentum technical indicators stayed on-balance positive amidst the fray, with the Stoch RSI reaching oversold while the MACD and RSI continued to hold on to still bullish readings (the first still above the zero line, and the second above 40).
And we may well have a longer term rising trendline in place as well.
I wouldn't rule out another test of lows, but I think this is very positive price action longer term. It makes me happy anyway. 😌
BTW, BitShares also performed quite well; however, it closed just a tad under my critical level of 31.5¢ that I mentioned in the comments of my last post, but is still keeping the bodies of its candlesticks well above 30¢. All in all, not bad either - with its 40% rip higher off its spike low, we can’t complain too much, now, can we?
@cryptographic,
Is poloniex good for STEEM? Few days back I heard they started their regular drama on STEEM. Anyway I am using Bittrex and Binance (few days back they have added STEEM)
According to your analysis STEEM got a bullish trend! That's a good sign! I will keep in touch. Thank you very much for sharing this valuable update to us!
Cheers~
I read so many analyzes that tells bubbles are bursting. Well it is really depressing. You seem more optimistic but do you feel sometimes that crypto-world is collapsing? And BTW, is it worth investing in? Since it's really cheap now. Thanks for the information and motivation.
Imho, this is a superb time to invest bro but big possible profits always go hand in hand with higher risks so the golden rule is and will always be, "only put money you can afford to lose"
I agree, especially investing lots of money in a coin which is really new, is not an intelligent move. I missed the airdrop and quests with 2 days for BTW and when it entered to a market with a 1$ price i was really sad. Most of my friends got like 2k BTW from airdrops and stuff and 2000$ is not bad for doing nothing. I was going to invest in like %10-15 of my money. So its nearly 2 million $ :P
Excellent technical analysis of steem and your analysis really help me in day trading, i also like to mentioned that steem it is growing far better than SBD and right now we need to convert sbd to steem and then hold steem and we surely see great results in future.
steem & bitshares has very low risk. They are showing very steady growth...... no pumps & dumps.... .... & qualities in steem everyone knows here......both have brightest future.
I also noticed Steem's improved behaviour the other day. You can see the article HERE Thanks for sharing.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
I agree, especially investing lots of money in a coin which is really new, is not an intelligent move.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
I watch price action, mostly out of being neurotic other than anything else since it doesnt really bother me wherever it is.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
Of course, from the looks of things, it might coincide with a stock market crash....
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
What goes around comes around!
This is the essence of Steemit....it really sums it up.
This article pisses me off....I thought I had it down but now you are making me think.
I have some LTC that I want to lighten my position in and I was going to keep it knowing that it will see a big run. However, you are right, STEEM and BTS will also see a big run. So, perhaps I am best off moving some of my LTC to them at this time....
Oh the problems we have. LOL
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
Wow!!! Nice post.. I always follow you... You post is really awesome
Sir you are really awesome ...Greatfull blog...I like your post sir...thank for amazing post gift..
is the best your post brother...
Thanks for the valuable information! I saw the post including BTW for the first time and I'm happy because of it :) I also shared post about BTW but my prediction didn't go well :) anyway thank you again, all the best.
wow... what a nice and wonderful post
Good to see steem price increasing. Hope steem price can go up to $10 after end this month.
@cryptographic good post. People who are thinking about joining should have a look over some of the wallets of the newer users on here and they will see that people are actually making money, even though it is very little at the start.##Upvote/Resteem###
Thanks for the technicial update.
I watch price action, mostly out of being neurotic other than anything else since it doesnt really bother me wherever it is.
I did use this opportunity to buy up more BTS...now I feel bad I didnt buy more. Alas, cant be greedy....I added and will profit handsomely off the levels I got it at.
The technicals support my intuition, both of these are going much higher. True we might see some backwards action from here a bit...but not much lower....and then it is off to the races. Some of the EW people have us finishing up a 2nd wave for most cryptos meaning wave three is next.
If people havent heard about crypto by now, they will be after a wave 3 completes (if that happens). There will be such a huge run that even those imps on CNBC will have to acknowledge that this stuff is real.
Of course, from the looks of things, it might coincide with a stock market crash....
....wouldnt that be amazing.....Bitcoin goes up 400% and JP Morgan goes down 35%.
Well done @cryptographic, it is latest update analysis work with graph chart. Great job.
This time I have to fully agree with you. The price action in Steem is very good and when this thing is over, I am expecting a blast in the price. It might really re-test the lows, but overall sentiment is very positive for Steem.
I also noticed Steem's improved behaviour the other day. You can see the article HERE Thanks for sharing.
wow excellent technical analysis indeed and you also right with your observations steem can go either way may be up or may be down but yes in the long run and especially after the induction of those SMT's steem will surely go to the moon so right now buy and hodl steem is no doubt a very wise decision, thanks for sharing very nice report and analysis with us, it's extremly helpful.
I think I will see the steem price as $ 9 at most. When they pass $ 8, people are taking their money and losing volume.
It's all about close prices versus the long wicks of the candles. Long tails represent the emotional and volatile movement of mass psychology, which can be interpreted as noise. Very encouraged by the price action today, nice to see the buyers step in. Obviously, we all would like crypto prices to moon away from current prices, but more times than not the market will test one's patience.
By the way, guess who is at the top of blocktivity?
Steem and Bts are my top picks for 2018 , I hope steem stays above $3.5 during this crash . Anyway it doesn't matter much to me , going to HODL it . I hope steem will touch my target of $30 eoy .
@cryptographic - Si, you mean it's bouncing from that horizontal line...
pinning through very important horizontal support and successfully backtesting the former downtrend lineNow I have noted it Sir... Your professional trading eyes can capture it very well... Until you revealed it, I didn't see this pattern Sir... I'll try to test this support line Sir... Nice you decided to update it...
+W+
That's more like perfectly tracing the bookmark style trading :D you seem to be very busy in technical analysis : )
Very Nice Backtest and Rallytoday learn a new word - backtest & got the idea behind it. can you please do the same analysis on eos? very essential thing for all steemit community. impressive article with valuable steem & bts market predictions @cryptographic
@resteemia
Hello @cryptographic,
Extraordinary good market update. Your fundamental analysis always status
Buy STEEM, BTS. Now today you released incredible technical analysis which says the same thing.At the moment:
STEEM - Market Cap: $941,673,114, Price: $3.79
BTS - Market Cap: $792,440,871, Price: $0.303871
Useful analysis & well informative. Extraordinary good article.
~@mywhale
Steam continues to please. No wonder he is in the top 5 best kryptovalyut.
This post has received a 0.67 % upvote from @booster thanks to: @cryptographic.
bro will there be any scenario likes past where we have seen it under a dollar is this really possible now i don't know much about analysis but would like to know your thoughts
This post has received a 10.44% upvote from
thanks to: @cryptographic.
For more information, click here!!!!
Send minimum 0.100 SBD to bid for votes.
Do you know, you can also earn daily passive income simply by delegating your Steem Power to @minnowhelper by clicking following links: 10SP, 100SP, 500SP, 1000SP or Another amount
This post has received a 13.87 % upvote, thanks to: @cryptographic.
You got a 0.83% upvote from @postpromoter courtesy of @cryptographic!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
this seems to be trading really well just on point i would say :)
well one thing i can say i am learning a lot from you and i can only say a BIG THANK YOU TO YOU FOR THAT :D