After randomly seeing the 30 minute chart on steem a few moments ago, we are about to hit a pivot point. Some kind of move should be in the works.
Usually I do not look at the intraday action since I'm not day trading steem, but I stumbled into it......
It was due to this awesome new add-in for chrome
I use bittrex, but the charts on bittrex stink. With this Bittrex Enhanced add-in, it feeds charts in from trading view.
Yes, trading view charts on bittrex. Finally!
@hilarski pointed this out in a post earlier today. Here is the link to the chrome store he provided for the tool: Bittrex Enhanced
Looking at the Steem Chart
We can see there is a clear descending triangle on the 30 minute chart. We are nearing the point (or pivot) of that triangle. Steem will either bust out of it to the upside or fail at the support it has created over the course of the triangle at roughly 31k satoshi.
Here's what is interesting
Based on current price, if steem were to breakout of the triangle to the upside it would also coincidentally be a test of the 33k satoshi on the daily chart I posted about two days ago: Steem Rose One Day - People Go Crazy
Clearly there are some headwinds, but a break to the upside would be positive on multiple time frames. This makes for positive price action.
Fingers crossed, steem has it's work cut out for it so keep expectations in check.
Best Regards,
very good analysis , upped. I might sound crazy however the cheap steem price is great for me now in order to gradually build up my steem power .. I am sure that the price will go way up by fall next year. Thanks for sharing.
Like the saying goes; buy low, sell high. Or maybe build low, sell high in our case :-)
Absolutely but for steem buy low and power up (for now)
Good one! I'm sensing some stirrings! 😄
Yes, apparently the bitcoin volume on the bid side for steem is the highest its been in quite some time. Hoping that would be a catalyst to push it higher, but not looking good at the moment.
Yes I noticed that tooo!!!! It was 35btc when I looked 2 days ago(and bought some more sp😄)!
At some point it will turn around, pretty sure about that😂 ;)
Hey thanks for the link to the extension! Hopefully we see a break away to the upside after that bull flag runs it's course!
Yeah, we need some positive price action. Its been a while.
500 million market cap is very real again. I think if steemit were going to crash it would have hit .80 recently but it has been holding steady. all It takes is one huge celeb to bring their following to steemit. we are only in the first inning
I agree with you hence why I indicated that steemit is a precious gem in my blog post. The cheap price is great for now in order to build up steem power before the price start moving upwards without looking back
I agree with all that. I may just be getting impatient lol ;-)
Oh, so much nicer.
Thanks for sharing this wonderful news. There's only one thing that I've always hated about Bittrex: its awful charts and charting tools. With my favorite charting software now running on it, ...well, let's just say that Bittrex became 5X better in my book.
My thoughts exactly!
Looks interesting @scaredycatguide :-)
It is getting into a good space where, the risk is getting minimal and hence a very good trading opportunity (low risk high return)
I trade on Bitcoin (BTC/USD) at the moment in crypto’s and publish that here on steemit, you can have a look at :
https://steemit.com/trading/@aarcee/bitcoin-btc-usd-trade-profit-booked-today-22-aug-2017
Good one!