STEEM - We broke the previous short term low - The break of the long term support line is in progress

[cryptopassion]

Hello all,

Yesterday, I was showing you that chart, saying you that the support line in blue was doing its job :

Here is the current chart :

As you can see, the break of the blue line increased the drop and we even broke the long term support line in orange which was holding the moves since mid january.

This line is very important, look how she did well its work the previous weeks :

If we break it during a very short time, like the 2 previous times, we can use it to start a bounce. However if the break is confirmed during a longer period, this is really not a good news for STEEM. Let's see the coming hours and see if we are able to come back upper of that line.

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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Comments

[benkalashnikov]

Great analysis as always. Curious to know what your long term prediction is? Here's a fresh analysis I did.

STEEM - Analysis - The Future For STEEM Price ($31) https://steemit.com/steem/@benkalashnikov/steem-analysis-the-future-for-steem-price-usd31

[dirkboy41]

Here we go... Let's see if we can bounce from here like the previous 2 times we've reached these prices.

[rollandthomas]

Price needs to hold $2.33, otherwise we may go down to $1.00.

[dragononcrypto]

Expecting a drop to $1.50 personally. Not bothered though I'm just on profits from $1 ;-) Probably buy more under $2 though.

[wales]

I thought I knew something about this, but after seeing it go up high and down so low I now know I know nothing...

[tradergurl]

Don't feel bad, price changes due to fundamentals, how much money is flowing into and out of the market, it doesn't 'obey' arbitrary lines drawn on a chart ;-)

[wildweoweo]

Great opportunity to by some bitcoin

[ssjsasha]

cmon steem! we need you to make new ATH's, we need a nice 160% gain while every other coin is in a red day

[omor1999]

Present time crypto currency is very low.I hope as soon as it raise.Thanks dear for sharing

[steemtaurus]

Great moment to buy Steem. Or any other of your favorite cryptos. Should be going up pretty soon.

[fabian-s-o-l]

Time to buy?

[anupomdas]

Thanks for good information..Great opportunity to by some bitcoin

[doomsdaychassis]

it just blindly followed bitcoin.

[nurzahwa]

😴😴😴😢😢

[ssimkins9]

Is this paired against BTC or USD? Sorry, it is hard to see in the picture.

I for one am using this opportunity to bring in some outside money into my Steem account. Let's hope for a bounce. :D

[umex]

i hope so

[khriyad]

good opportunity.
it just blindly followed bitcoin.

[conradino23]

I'll definitely consider buying some steem if it goes down even lower!

[diogosantos]

I truly believe this is just another temporarily low, below the support line, like the other 2 times, I'm optimistic that we will bounce back up.
STEEM price doesn´t affect me and my motivation on this platform because I´m here for the long term, and I think we will see its price surpassing the 2 digits in the coming months.

Considering this, I think it's an excellent time to buy, as soon as we confirm the support line and start bounce back up again.