The chart I'm watching now
That's one beauty of a chart that STEEM price action is drawing.
Very sweet.
This is all about moving averages and you can learn more at the websites mentioned in my The chart I’m watching is BTS post.
Read the "The Dos and Don’ts" here if you're not aware of my rules.
Sideways with volume depleting . I think we need one fundamental push to begin the rally and overall broad market to support a bit . these 2 elements are pivotal to move into the bull flag zone and then only we may hit $10. I think Ned speaking at consensus 2018 will be a major pivot.
We'll have to keep an eye on the middle of May. We might expect the market to discount good news in advance though. We're still holding within the flag just above the 200 dma, and the overall market looks fairly healthy, well, the overall quality market that is. We're at a pretty important juncture, that's for sure!
The only worry i would imagine is " are the institutes ready ?" Cause if they arent , market would have to bear a lot of pain (FUDs will be manufactured ). And once they starts touching their toe in water , its gonna be a tidal swap. I hope they are ready by now (for god sake, otherwise a lot of babies are gonna die ).
MA50 and MA20 willing to cross in short may indicate a Bull run cycle.
Also, as said by @milano1113 there is a bullish flag indicating the uptrend.
STEEM may reach 10 to 14$ within 5 months.
Cheers
And 7 to 9$ in a matter of weeks? I think it's a real possibility. I've held on to a large amount of STEEM throught this "bear" market believing it would hold up better than the rest, and, well, on a relative basis, it has, but not as much as I thought. Now I'm thinking it might make up for that by really outperforming to the upside - again, on a relative basis it's held up well, and those are the ones that pop hard.
7-9$ is awesome as was back in December 2017..if that value does remain for a pretty while I am opting for a payout...what do you think ..should I or not...
Though 7-9 is a pretty high value considering the current value..
But I think it's going to rise when more this year, a lot more
Godness! that would be amazing but, I see 6 USD more feasible and sustainable for the short time...
Not bad at all as well ;-)
I'll go with that. I'm thinking that 9 might be attainable in the short term on a spike.
Looks like a perfect bull flag and consolidating with volume decreasing. I love this chart as well. I would almost say reversed head & shoulder, which counts if happens in the downtrend and this is a perfect example. It’s has already broken. From now on we shoul change the trend.
Consolidating right on top of the 200 dma, and loosely drawn inverse H&S neckline. This all off of very solid long term support with the technical indicators turning positive and the MA's turning too! It's a beautiful setup for investors and short term traders alike, and that could light a fire.
Well, everything has been going down for way too long now, it's nice to see some positives in the market. Although the market is not going up very much, it seems like STEEM has a bright future ahead of us. We just have to wait it out! I don't think we are going to go lower than 2$, but who knows... Cryptos can be so unpredictable sometimes.
So unpredictable that the only way you can really play in this space is with money you can actually afford to lose!
Yeah, it's the only way!
This pullback is healthy as it provides some consolidation before another move higher. If we are able to breakout of resistance above with increased volume, we may never see a $2 handle again. I’m looking to add here soon but still unsure if I continue my scale in or a heavier amount given the moves we have seen.
We may never see $2 ever again. We said that about $1 not too long ago. Nice to have things developing so positively. And the consolidation continues. All eyes are on STEEM's ability to hold those recent gains!
Sir @cryptographic,
Investors have also become very complacent recently. I’m not referring to sentiment surveys here; we’re talking what investors are really doing with their money. And they’re not buying any put protection right now. In the past, this sort of complacency has signaled a short-term top was near.
Complacency is indeed a very helpful psycological indicator both at tops and bottoms.
Oh yeah, the situation is very proportionate, but it seems to me from the latest events, to predict the price of the STEEM will have to be relative to Bitcoin's price. According to my observations, no matter that Bitcoin is obsolete, it still sets the tone for the market. As a rule, all currencies will show the same dynamics as Bitcoin and the STEEM are not an exception. Thank you @cryptographic
No doubt in my mind either that Bitcoin still sets the overall tone. It's the big name that everyone knows. I dare say that in many places it has become a household name. It's certainly the name that always appears in the press, and if it's going up, people get excited and start looking at other crypto too.
Can't wait for the day when that changes. 😎
Hi @cryptographic ! I saw that quick rise upto $4 and then back. This is a great signal of a pushing uptrend!
Its like when popcorn starts to pop, this is whats happening. Just 1 this time, then 2 or 3 times, and then it will push hugely I believe.
Regards, @gold84
Hi @cryptographic
Here is the current chart
Resistance line at 2.85$ tested for the 2nd time but we failed again to break it.
It looks like that we are progressing inside a descending triangle that I draw you in green. We should now go touch the lower line of the triangle and have a bounce from it. Let's see if the coming hours will confirm that scenario.
I'm not good at charting but i believe that in short time we will see bull run in steem price. Few days back when bitcoin bull run start steem is the first cryptocurrency which increased upto 70% ,,,so it show the potential of steem. Steemit Inc is very slow in their work...they should launch smt as soon as possible because still steem rank is not good in market as it launched in 2016. Thanks for TA