Hey. I am back after 2 weeks. I have seen crypto market started its bull journey finally and i think it will continue until 2021.I have started to post analysis here since december and i have been tired to post same analysis again and again due to long lasting downtrend.Now whole scenary dramaticall changed.I have seen at morning Bitcoin touched 10330 again and xrp touched 30 cent.Those are not our subject.We have to be happy with recent price of steem and sbd.So, today my analysis is about steem/usd price.Gradually it is going to bull and i hope it will continue it to whole year.

I said i missed last 2 week and i ddid not recent news of steem proposal and fundamental development. From today i will again post continiously.

I have posted my last analysis at 24 january.This is my last analysis link.
https://steemit.com/hive-174578/@shharafat/calm-before-fly

Steem/usd Info

Steem rank 77th (-2 decrease from 24th january)now based on total market capital(source:coingecko)
total supply 367 million
circulating supply 324 million
current daily trading volume of today 4.11 million usd.(2.12 million usd was in 24th january.)
Steem All time high was 8.19$ in january 2018
Steem All time low was 0.07 in mar 2017
Total Market capital 78.22 million usd (54.53 million dollar was in 24th january.)
Today price 23.17 cent (16.23) cent at 24th january).

Technical Analysis

Technical analysis reflect a momentum of trend.Now whole trend indicating long bullish. We have to hold out steem and sbd.

Daily Chart Of steem/usd

Daily High 24.00 cent
Daily low 21.86 cent

Day started with 21.86 cent and gradually it trying to test new high of today or this year. We have seen at this chart price two times tested 23.16 but in both occation price was unable to stay.But third time it break the minor resistance and test new high 24.00 . Another major resistence is 26.00 26.50 area. But before test it price will go for some correction and it can test 22.50-22.75 area.

Market capital in Daily chart

Today high 80.55 million
Today low 74.12 million

Above 26 million dollar market capital has increased in last 3 weeks. That time price was 16 cent and today it has tested 24 cent. We have noticed at january market overturned from big downtrend and sideways move.Now price is going to break new high in every month.

Today high 4.12 million usd
Today low 3.23 million usd.

Why daily volume so much increased.Because traders are happy now.They all know buy position is now very safe and it will give them daily profit also.Although steem rank still now 77th but i think it will up with in 2 month and will go to under 50.

Moving average and Oscillator in Daily chart

In forex sometimes trader got a sure shot.Like if you see price are going to bullish and resistant is far from price then we can open bullish position blindly.It must give us profit.I have seen here same position. 10,20,30,50,100,200 and ichimoku moving average all are showing bullish here.Overall moving average indicator indicates strong bullish signal.Overall oscillators also indicates bullish signal but it is not strong.

Weekly Chart steem/usd

weekly high 24.00 at 12th january today
weekly low 19.00 at 6th january

Week has been started with sideways move but last 2 days it has gone up and trying to test new high.Last 2 days whole crypto market was bullish.So, i hope it will go now for correction and 22.50 area is important.Although it is not any major support.If we find major support area then 20.25 is strong support area.

Market capital in weekly chart

Weekly high 80.66 million at today
weekly low 63.87 million at 6th february

This picture indicates how strong bull trend now.Because market is going to break new high and price also showing stability. Traders become confident now and recent fundamental crypto development will boost bitcoin with all altcoin.Steem has good reputation.

Daily volume high in weekly chart 4.12 million at 19th january .(15.31 million usd was at 11th january)
Daily low volume in weekly chart 1.79 usd at 18th january

If i compare daily volume with december price then it already up 500%. Most of the steem holder hold their coin and which people are daily trader they are trading every day with confidence. I said already we are safe now and we can say downtrend has finished already.

Moving Average and oscillator in weekly chart

Short time moving average showing bullish signal. 5 to 30 days moving average indicates bull signal.But from 50 days to above 100 and 200 days showing sell signal. If price continue rise another one month like now then broader moving average also turn to bullish. Most of the oscilator indicator showing neutral. It must be good news.Because i had been tired to see bearish red area at oscilator since november.

Steem/usd Monthly chart

Daily and weekly already turned to bullish.But month chart still now showing strong buy signal.Because last 24 month we had seen big downtrend.And only last 45 days price are going to high.

Monthly high 24.00 at today
Monthly low 13.36 at 14th january

Just look at into monthly chart. Every time price break resistent and made new high then came back for correction.We can say it in one words, price tritng to break new high and traders open position from higher low position.

Market capital in Monthly chart

Monthly high 77.17 million at today
Monthly low 42.65 million at 14th january

Last one month market capital increased 35 million us dollar. It is the proof of recent crypto development. Steem is not a billion dollar market even though it has very low supply compare to xrp.We had seen at 2017, xrp had gone to 3.75 but steem touched 8 dollar. This is the difference and benefit of low supply.In pumping time low supply coin play better.

Moving Average and oscillator on Monthly chart

I wrote already monthly chart need one or two more week to change scenario.Still now most of the indicator showing red.2 month bullish price can not change 24 month bearish view.So, oscilator and moving average still showing bearish signal.

Fundamental Analysis

Fundamental analysis is my favourite analysis. Today is the big day for crypto currency.Jeromy powel, federal reserve governor said today of his testimony, digital currency need privacy future before china digital currency yuan come to market.
xrp also has major good news in today.Xrp touched 29 cent today due to Ripple boasts a partnership with the National Bank of Egypt.
Another news is steem media token (SMT)confirm coming at march 2020.we all are waiting for it.

My trading Advise

This is not high time for staying sidelines.We can open buy position now blindly.But we have to be beware about correction time.It will be good if we open buy position from minnor support level.When price will go for correction then we have to observe the higher low price area. we can open buy position from higher low area.It will be more safe trading for us.

All screenshot taken from
https://www.tradingview.com/symbols/STEEMUSD/technicals/
https://www.coingecko.com/en/coins/steem