BTC, Steem, SBD chart review
Here is the daily chart of BTC, plain just to see the trading pattern. There is a Heikin Ashi overlay on the candlesticks to identify the trend.
A closer look with the last major high and low listed. The last low after the selloff to 10.4K was ~12.5k, right at the 50 dma.
BTC has 3 red candlesticks and is at the 50 dma again. If it should break the 50 day, it may find support at the last low of 12.5k, then the lower bollinger band. If it should break those levels, BTC may retest the last major low of 10.4k which was on Coinbase.
Here is a line chart to compare the performance of a few of the top crypto's since last November. ETH has recently shown strength after breaking above 1k.
BTC in Red
ETH in Blue
Dash in Green
LTC in Yellow
Weekly Steem chart w/fibonacci from the initial spike high of 5.02 to the low of .04. That produced a 1.618 fib level of 8.10 which it spiked right through and has since pulled back.
The daily Steem chart has printed red bearish candlesticks and has spiked down to the 20 dma. In the last Steem review, I speculated that Steem will bounce between the $5 level and $8 for a trading range/consolidation. Stochastics K/D lines may move to the oversold area before rebounding to the upside.
Here is a comparison between SBD in Red and Steem in Blue since November. The gap has tightened significantly over the last week or two. It was >$13 USD's at one point.
Any predictions for the 2018 prices for either BTC or Steem??? Let hear them...
I realy don’t thing whether it matters to predict where the BTC or Steem in the near future would be. What matters is what you belive in. If you belive in bitcoin or Steem you can buy it now and wait, you will not panick or be too much emotionally involved because you belive in it and not speculate. If you do speculate, once it turns against you just a little bit your emotions get involved and that’s a recepy for disaster.
I do belive in Steem & Bitcoin and every time it plunged for me it s buying opportunity.
Resteemed!
I’m at low 40s, can’t upvote, my apology!
I mostly use technical analysis to find potential buying opportunities. I scale in with small amounts.
I purchased Steem last year at .89 as it was at the bottom of it's range. But it's true if you believe in the project/technology, it should appreciate going forward.
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