Hello steemers,
As you know we used to analyze the spread STEEM-BITCOIN with a 4h chart and our view was bearish.
The spread collapsed exactly to the target @0.0025. This target was the dimension of the sideways (blue line and first red line).
Now the best strategy is to be flat. We prefer to wait for a new strong signal...
Best
I think with all the new people joining, some people took advantage of the high price to sell some large accumulation. It's good, it's cheap for the news to buy in some extra STEEM before it recovers and catches new bids with fresh spec money. Thanks for the analysis and charts, I appreciate it.
Agree. Tnx
I think a good strategy is to buy and power up on sharp drops after prolonged consolidation movements. Time is on your side when powered up. Its kind of like selling an options contract when you expect sideways movement and collecting the premium as additional income. The risk is a further drop so it is good to keep some cash on the sidelines.
Lets face it, with a 100% annual monetary inflation rate, strong rallies are most likely going to be few and far between and short lived. I would be glad to be wrong about that.
Hello, good analysis!!!