Token Steem. Until May, the price will not rise much. Movement in a triangular pattern. The time of consolidation of funds.

Hi, Steemians…

If you know that the price movement of any financial asset on the stock chart adheres to certain lines of support and resistance, you can relatively easily calculate this movement for a certain period ahead, using a sufficiently large timeframe. However, I am not talking about price accuracy at a specific time. I am talking about understanding the trend, as well as calculating the upper and lower limits of this movement.

For example, you can explore the Steem coin by drawing the main support and resistance lines on the exchange chart for the last year. Timeframe 1 day.

Support, line 1. All major bearish lines 2, 3, 4 and 5 are also clearly visible. The pivot point is the recent price high at 0.000125BTC. We increase the scale and consider the whole further process in more detail.

Down along the line 2, the price broke through this line. Then, in the last two days, the price successfully tested the resistance line 3. The fact that the price went beyond the border of this line indicates a high expectations of investors, a certain excitement is created. But judging by the fact that the price has rolled back below, you can see that at this time the “bearish” trend prevails The owners of the coin try to immediately get rid of it, at the slightest price increase. There is no doubt that in the near future the price will break through the line 3, but there are still two ahead.

The conclusion is that powerful bearish efforts will force the price of Steem to move in the near future within the triangular pattern. At the end of what the most likely rise in prices, most likely not higher than the level of 0.000125BTC. What will happen next - time will tell.
According to the chart, the exit from the pattern will occur in the first half of May. It can be said that moving in this triangular pattern, the coin will be in a state of consolidation of funds.

All stock trading is waiting for new investors. Before their arrival, a strong growth of the cryptocurrency market is not expected.

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Thank you for reading and support!

Good luck!

The @upvoteinvest team

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