STEEM continues its sideways action
The volatility in STEEM continues to drop out
If STEEM were a road, it wouldn't be a very bumpy one.
Especially as of late.
The highs and lows within the trading range are getting narrower and narrower week by week.
Check it out:
(Source: https://twitter.com/tq_crypto/status/1279735005925826561)
Patterns like what we are seeing in STEEM often precede big price moves..
There is an old saying among traders that goes something like this:
"The flatter the base, the higher in space"
Meaning that the longer a price goes sideways, the bigger the move up or down will eventually be when it picks a direction to go.
On STEEM, will that direction be up or down, what do you think?
Stay informed my friends.
-Doc
Someone or group, seems to be in control of the price movement a.t.m. I’d like to see a big move up, that’s what the chart favours as a Long term reversal. The bears have had their fun for years now. Although it might look impossible looking at the chart, a bull-run is inevitable. a bull-run in btc pair could favour BTC long term. The more steem goes higher the more people talk about steem BTC and other associated assets , Tron. looking at Ada and other pos chain, I feel steem is far more battle hardened and offers more Data for others to learn. maybe I am wrong who knows.
This makes a lot of sense to me. The only question is whether it will actually happen or not. Why would someone want to support the price of months if they have no reason to pump it?
If I knew, I would say.
Looking at the charts, do you think it favours short or long ?
Hopefully 2 dollars soon