TATCH 👻 TRADING ANALYSIS: [STEEM] Complete price reset of STEEM after a strong bull trend
Hello everyone !
So let's kick this Tuesday 'real starting trading day of the year' with a quick recap on STEEM pricing
1) A nice extended bull trend
Price had a good run with 3 nice pushs: 2,5$, 4ish $ and 8,5$ (see following figure)
2) Correction ?
From its higher high price went back down to push n°2 as it's the case 70-80% of the time.
Price should now enter a 'killing zone' by going sub-3,5$
3) Reset !
As you can see from the above figure, long term bullish trendlines haven't been tested yet.
Trading 'Fan' slope are nicely distance and carries similar angles, which is good signs that price should keep on rising globally for 2018.
4) Some notes
- Currently though we are in downtrend (blue line)
- 3,4$ is a very strong and important S/R level
- Green rectangle area should offer some real nice trade opportunities but till then it will be only 'pain and suffering' regarding active trading (hence the 'killing zone' comment).
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Much love
Cédric
Tatch Capital Limited
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All disclaimers and common sense apply.
No advise, just personal commentary.
"Never go full retard".