Steem (coin) has overcome an important resistance 40000 satoshi, what will happen next?
Now I see a lot of discussions about the dynamics of steem price in the posts, and decided to publish my trading plans on our coin. I always follow the strategy of "buying when cheap, selling when expensive". The time of accumulation of positions is over, the price has moved up and it's time to think about fixing profits. The question is, where to take the bulk? Technical analysis and comparison with other coins (especially with EOS) should help.
On the STEEM-BTC chart, we see that there is definitely a reversal, and we hit targets one after another (green ellipses). I missed the first goals, since the behavior of the other crypts indicated growth at times.
I started selling from 40-44k, the following goals: 64k, 90k, and 1st fibo expansion after ATH - 142k.
I will re-buy after the shakeouts, if the dynamics of volumes and the general sentiment of the market will signal a continuation of the trend. But not less than 25-30% cheaper than the output (optimally - 40%).
What about the price in dollars?
Here I think we can focus on EOS, as a related project. EOS grew 20 times from the bottom of 50 cents. For the STEEM, which held for a long time the price of 1 dollar, this means the ultimate goal of $ 20, with an intermediate $ 10, $ 15.
I find it difficult to predict the course of bitcoin in the next month, so I just watch both graphics.
On the STEEM-USD chart, we confidently broke the June high of $ 5, and now it will be possible to retest this level from above. Well, in time, I think the whole movement will take 1-2 months.
I wish everyone successful investments and trades, thanks for attention!
p.s.
I welcome criticism of my trading plans))
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Your analysis is great. After reading a lot of analysis from our fellow steemians with big brains, I 've learn a lot. Thank you so much for sharing this. I agree with you...
I would expect to see $12-15 for 1 Steem and then it would start slowly travel towards 4-5$ )
I look at the market in general and especially EOS and BTS, as I suppose that there works the same "gang" of pampers, the handwriting of which I kind of started to recognize). Agree with your targets, and maybe $20 as a last spike))
Let’s hope you’re correct!
Yes, it whould be nice!
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