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RE: IS STEEM READY TO TAKE OFF? OR IS IT ABOUT TO DIP AGAIN?
Hey msg,
STEEM has been playing inside a bullish flag.
I like that you said this. I just posted my own STEEM/BTC analysis and actually asked whether it was just a big flag pattern.
Interesting that you see the pair dropping further, but it can still drop all the way back down to the bullish upsloping trend line support and still be in an overall bullish trend.
I still like the opportunity of buying here for a bounce off the intraday levels I've identified though.
I saw your charts. You're using thin lines and you're not ignoring/skipping the highs and lows which are usually nothing more than just extra noise! I have learned to use thick lines and ignore/skip the highs and lows to get a more accurate understanding of what's going on. It's all speculation at the end of the day. Only time can tell which chart is more accurate! Good luck :]
I agree with you. Even though the lines may be thin, I mostly treat them as 'zones' rather than hard lines.
Support/resistance is never black and white.
Turns out I was right. At least as far as today and yesterday is concerned :]
Yep, Steem getting pumped.