VIDEO EPISODE#8: THE GREAT STEEMIT SALE current price $1.06, 18 July 2017 http://cryptotradingmastery.com/
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In today's analysis, we will revisit STEEM. At the time of this writing on today 18 JUly 2017, the current price is $1.06.
PLEASE WATCH VIDEO BELOW:
In Episode#3, written on 6 July 2017 the price of Steem was $1.85. I accurately forecast a fall in price to between 0.75 to $1.
Please Watch video:
As an investor (as opposed to a speculator), I am of the view that Steemit is a good medium/long term BUY.
I went on to comment, as follows:
" i'm expecting it to get to around 0.000400BTC and looking to take an initial postion of 33% of my allocated capital to purchase.
When it gets there I will review the market pattern and position. If its looking very weak then the next fall lower and buy area for me is around 0.000200.
If it hits this level I'm all 100% allocated for this coin." [Sean Vengan 6 July 2017]
Well, the price did create a low around 0.0003581BTC and the price currently is 0.00048 BTC - this represents what I publicly announced that you can "Buy Steem At Half Price"
Steem is currently in a downtrend and for more conservative traders/investors a confirmation in a change is structure would be required.The initial resistance (R1) remains @ around 0.00575BTC. So it would need to the break this top which would confirm a change in structure to a higher low higher high.
The next area of resistance (R2) is 0.000653 and it needs to confidently break this to resume its upward trajectory.
On the support side, a breakdown of 0.0003581BTC low would mean the down trend is still intact and a fall to around 0.00020 would be a possibility. If it falls to this level, for me, this is great value buy at around $0.50cents.
As an aside, quick update on Bitcoin, 2 of our 3 targets have been hit (T1 and T2) so using a trailing stop we have locked in our profits.
Hope this helps.
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Sean Vengan, Cryptotrading Mastery.com
Website: http://cryptotradingmastery.com/
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Hi !
It looks to me Steem price is following Bitcoin price. So I guess it depends of what bitcoin is going to do.
Can you give a refresh view on Bitcoin ?
For me, it looks like pretty accurate from your big picture analysis, but are we in a dead cat bounce as you say or are we in the longterm bull trend ?
It seems to me the bull trend has returned for good ? But still I'm cautious because I know you have more experience than me on that.
Best !
Hi! My next post will cover Ethereum and by then we will have more data on Bitcoin following the fall to reasonably comment on. As we move closer to Aug 1st we will start seeing the charts revealing the direction.
@supertraderoh man..
We need more people like you on this channel. Damn cryptos.
I initially found you using my machine. Are you interested in presenting more technical stuff here, in the future?
Sure lets chat...
Fantastic analysis. Analysis on Bitcoin was Awesome too with clear Tech analysis. Need to interact with you. Am in Steem chat with the same username. Or let me know a better way to discuss.
Thank you very much for kind of you comments. Would you mind please telling me your trading background - what you trade, how long you been trading full time etc...?
Have been in stock market nearly around 9 years. All my investments were in Indian Stocks. Had a successful stint so far. New to the Cryptocurrency world!! Everyday i learn about this new avenue. Pretty Exciting!!
excellent. I hope you will learn alot from these posts and video. These cryptos are an awesome opportunity.