STEEM - The support line did her job as predicted
Hello all,
Yesterday I was saying you that we will use the support line in red to make a new bounce with this chart :
Here is the updated chart :
As you can see, once again, my prediction was 100% correct.
We should now try to go test the previous TOP around 4,50$ and I keep that as first objective.
Depending off the Bitcoin, it is always possible that we go back test the support line in red again. We shouldn't break it except if we have an important drop on the Bitcoin also.
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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the price of steem is very positively corelated with steemit traffic and user count. Steemit has 750K+ registered accounts. 3 months ago the number was 450K. 300K+ accounts added in 3 months time. Although all this accounts are not active, and some of them are owned by same person, the greater the number gets, more demand is on steem tokens. As long as Steem is not just a cryptocurrency like many others, and it is practically usable currency and not just a store of value or instrument for speculation, the fundamental part is essential here. Based on the dynamics we have now, the demand should be much more higher in the long run and the price shall follow. $10 is a matter of time, several months, not years.
My opinion, which I think is quite objective.
Thanks for your efforts.
From sensitivity analysis (SA) perspective, STEEM is little bit lagging behind BTC as per STEEM/BTC ratio which is hovering around 0.00045 to 0.00046, having big resistance at 0.0005 (and on strong breakout at 0.0006). On fundamental analysis (FA) perspective, STEEM is not moving up after big uptrend started by WEISS rating. Next uptrend against BTC may start on SMT release or another unexpected big positive news.
Glad to see Steem in bullish trend...
Lol... Yea thats so true... Nevertheless your content was very informative. For me its a building block for other research i shall do
I'm so glad it's going up again. It has been a struggle for us since end of january...We all hope it's gonna zip up!
Great post cryptopassion
Thanks for your timely prediction. You are indeed an authority in what you do. Happy to learn from you
Wonderful.. post i appreciate your crytocurrency news.. thanks for sharing this post.. Carry on my dear..
You really put your good knowledge of the market to good use. Thanks for the prediction, am absolutely loving it
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