1ST CHART ANALYSIS STEEMIT VS USD

in #cryptocurrency6 years ago (edited)

For my 1st chart analysis I will review STEEM/USD

Chart time frame: Daily & 4 hour
Harmonic Pattern (4hr): ABCD (Bullish)
Support Level $3 range

DAILY CHART
steem vs. usd daily.png

Daily chart shows a bullish pennant being formed. Looks like it ready to break soon. TDI (Traders dynamic index) Shows volatility band was broken on 1/16/18 which can be used to confirm a direction change.

4 HOUR CHART
steem vs usd 4hr.png

A possible bullish ABCD harmonic pattern has been identified. This pair may still has a little fall left in it down to the support line. After that it possibly could bounce back to re-test the previous high around $8.

Disclaimer: This is just my theory. I am not making any recommendation to trade this idea. All traders/investors are advised to do their own research and analysis.

Come join my telegram channel for more chart reviews: https://t.me/competitiveadvantagefx

Trading view chart links
DAILY https://www.tradingview.com/chart/STEEMUSD/g5M6xGTM-STEEM-USD-POSSIBILTY/
4 HOUR https://www.tradingview.com/chart/STEEMUSD/ArL0ydhg-STEEM-USD-4HR-CHART-POSSIBILITY/

STEEMIT BANNER.png

STEEMIT BANNER GRAY.png

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STEEM 0.27
TRX 0.11
JST 0.031
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ETH 3663.55
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