Hello all,
Here is the chart of yesterday :
Here is the current chart :
We haven't been able to stay upper than our support line in red. The break of that line created a pull back and we are now consolidating on the MMA20. You can see in the little green circle a DOJI. This pattern is showing a pause in the drop and a possible change of direction. If the drop stops at this point, we will go test quickly the resistance line in red. However, a break of the MMA20 and MMA50 (violet line) will send us directly in the direction of our support line in brown. The coming hours will be important to follow...
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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As I said yesterday (and many times before): Steem has unfortunately no life on it's own. BTC down - Steem down. The slightly larger gain compared to BTC yesterday is gone today with a bigger loss than BTC. I like your TA because for me it's the only one here, that makes sense in the way I learned TA many years ago - but in the end, we learn every day, that crypto TA is basically chart art - it looks nice, but doesn't tell us anything about altcoins, as long BTC is the only marker that really counts.
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nice
Nice analysis. One more thing to notice is that we did not see high volume after the sudden rise in price. which is an indicator the we will see some consolidation before any up move any time soon.
Support yes!
Yes, this is true. Values of steem are very down and any investment at this time will become in the loss. Thanks for sharing this informative post. You are upvoted from @muhammadafzaal
Hi cryptopassion,
Again, like the simple charting and you get to the point of the chart.
Normal to see a pull down 1/2 way down after such a drastic buy up. I would say Steem will follow what BTC will do which is up again perhaps to the redline then, come down thru the weekend and up again the next Monday when Asians and Koreans buy to pump up again....
I was glad to see the last pump us though to bring life and hope back to Steem and Steemit.com
Nice your post
Danke für die Mühe
Another cool thing.
Yes. I agree with you. Thanks
Unfortunately it seems we are following Bitcoin right now which looks like it wants to test support yet again which may not be pretty. But I will buy this dip...
So Sad....
I am very supportive !! I would say that Steem will follow what the upcoming BTC will do in the future.
thank you @cryptopassion for sharing information.
I think that the platform needs to be redesigned.
It will be better if steem attains the red line a stay above, support line is not adequate enough. Yes we wait put and see what the hours and days will proffer. Thank you for the information and the disclaimer.
OMG. Still, buy the dip!