Hello all,
Here is the chart of yesterday :
Here is the current chart :
As you can see, we cannot move away from that support line and to be honnest this is not a so good news. As always we can see it positively and say that a break out is preparing and that it is why the volume is decreasing and that we are in flat mode.
However, I'm not so positive on the Bitcoin and I think that if we start again a correction on the BTC, we will break quiet easly that support line in yellow. So be very carefull with the coming hours my dear followers, let's hope a nice bull volume but keep closely an eye on the Bitcoin which will impact us much more than any TA.
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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That's exactly the point. We are in a co-dependent relationship with BTC and as long as this is the case, even the best TA is useless. Sad but true...
Bad News?!...
I’m sure it will, but I have no idea when unfortunately, thanks mike
greate post thank you
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great news for us
There has been some good news and some bad news as we keep riding the regulation fear and panic wave. As with any market, we have to figure out how to adapt to market conditions. While we hold for the long term, we also trade in and out of positions to grow our portfolio for adding to the longer term cryptos.
Here is a prediction that a trader made today. You can see his technical analysis chart here. Make sure to read the comments as well. This chart is showing what is called a falling wedge meaning that there may be a breakout up towards $10.5k plus for BTC. So, what does that mean?
It means that you can trade bounces between short term highs and lows. This is just an example, not an actual "trade," but if you were to get some BTC right now (around $9100 as of this minute), you could then sell it when if it goes to $10.5k, then if it dips again, rinse and repeat. Right now, it is looking like BTC is staying above $8k, though it has been struggling to break through $12k. So, you can try to buy when it's in these low ranges and sell when it pops up. This can be done with other cryptos as well.
If you try any short term trading it is good to only put 1-5% of your total balance into a trade, and also, it is good to set a stop loss or exit the position if it goes down 10% from your buy in point. You also have to have a target to enter in and a target to exit. We are not saying trading is simple, but these bounces are coming fairly predictable at the moment.
Bitcoin is "the Octopus" of crypto world. To be honest, every crypto currency depends on BTC at the moment.
very interesting your post @cryptopassion! Greases to share.
So, Steem its depended on bitcoin ? 2017 end of the year reach a 22$ but this time its every day fall what is this ?
great news... i appreciate that...thanks for sharing
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Agreed. I also think it could break easily.
thanks for
Crazy times indeed. It looks like the market itself does not in which directions it wants to go.
In the meanwhile I will keep the faith and keep on dreaming that the bulls are waiting, behind the fence pumping themselves, to be freed.
But I will hodl until the end. I prefer that my portfolio will go bankrupt instead of selling my coins to cheap to some whales, wanting to rule the cryptoworld!
Look for a breakdown below support taking all the stop losses, The whales loading and launching it back up. That is the 3rd possible play. we would have to see how this plays out.
great news thanks for shere.
I always try to relate steem's rate to that of the general market. Of recent it seems new market moves are being made and it's increasingly difficult to predict moves.
thanks
What is your target buy and sell points?
Bitcoin has not yet finished its correction, prices will soon be below USD $ 9,000.00. With that, the price of Steem will lower even more. But hopefully good things for Steem future.
great analysis! :^D
do you use RSI? as Im checking btc at per hour candle, it really hit the bottom several times, thats why Im quite worried if it really goes 8k below, but still I'm positive for this, gonna buy more incase it burrieds just like before. thank you for this info, you really become a big whale, i'm proud of your accomplishments, I sincerely congratulate you for that, I hope you help a lot of people to be educated in this sharing of knowledge of yours
Nice posting. With this post make us know about bitcoin info.
Thank brother.