STEEM Technical Analysis, Price Prediction and NEWS
STEEM T/A
Steem has been on a constant decline just like any other coin. Steem has dropped 77% since January, 2018. I personally believe that it will drop another 5% before it starts curving back up. I base my predictions on the following criteria; Long descending triangle, Long term key support and resistance levels, RSI, and TD sequential.
Steem has had a strong support level that has played as "life saver" for a long time. Steem has always been able to hold around 10-12k satoshi. Once again we are approaching those levels and the market looks like we are approaching to the end of this bear market. When we see 10% gains consecutively in 5 days, we expect a correction price in the following days. The same thing is happening today, we have been declining in price for so long that we are bound to see a correction in price upwards very soon.
RSI looks somewhat in a normal range at 33 on daily. Steem has 2 support levels in RSI which are 30 and 20. We are approaching the 30 level and I believe with the last flush in the market we will hit close to 20s and be able to bounce big time.
TD sequential has just entered into a new Red 1. That is usually bad news. However, I think we will see Red 2,3,4 in the next few days as we hit the low 10k sat as well as 20s in RSI and TD sequential will switch to green and the price will start going up.
STEEM News
News and up coming developments play a vital role in price action. STEEM has a lot coming up for them. There will be Velocity Fork, Steem fest in different continents. Most importantly, STEEM is releasing it's Test Net on Jan 15, 2019 and launching the Mainnet at 24th of March, 2019. I personally believe that by the time Mainnet gets released Steem will reach a new All Time High.
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When Bitcoin value goes up. Steem also goes up. Invest in steem is like one bullet that kills two birds. Steem value goes up while we can earn from curation rewards through upvoting, commenting, posting, resteem, etc.. Therefore, Steem is the best investment.
Steem is definitely a great investment. It has a great platform.
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What happened to the markets today?
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@hendrix22 I think it is the last flush of the bear market. BTC dominance has skyrocketed, all the altcoins are taking a dip. It is the same scenario as December when BTC was making new highs. We are well over due for an alt season like in January.
I read something on Goldman Sachs today and I also read something regarding panic selling. I’m still HODL’ing just looking for opinions on it all. Thanks :)
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I have learnt that when news outlets starts talking negative, thats when we should get positive. Just an opinion :) Thanks for visiting @hendrix22
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Welcome to Steem Community @cryptoemir! As a gentle reminder, please keep your master password safe. The best practise is to use your private posting key to login to Steemit when posting; and the private active key for wallet related transactions.
In the New Steemians project, we help new members of steem by education and resteeeming their articles. Get your articles resteemed too for maximum exposure. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch