Very Nice Backtest and Rally
STEEM did it in textbook style today, pinning through very important horizontal support and successfully backtesting the former downtrend line, giving it a touch and then rallying more than 30% up into the top half of the day’s range to regain and close above the rising 55 DMA!
Job well done!
And the trend-momentum technical indicators stayed on-balance positive amidst the fray, with the Stoch RSI reaching oversold while the MACD and RSI continued to hold on to still bullish readings (the first still above the zero line, and the second above 40).
And we may well have a longer term rising trendline in place as well.
I wouldn't rule out another test of lows, but I think this is very positive price action longer term. It makes me happy anyway. 😌
BTW, BitShares also performed quite well; however, it closed just a tad under my critical level of 31.5¢ that I mentioned in the comments of my last post, but is still keeping the bodies of its candlesticks well above 30¢. All in all, not bad either - with its 40% rip higher off its spike low, we can’t complain too much, now, can we?
@cryptographic,
Is poloniex good for STEEM? Few days back I heard they started their regular drama on STEEM. Anyway I am using Bittrex and Binance (few days back they have added STEEM)
According to your analysis STEEM got a bullish trend! That's a good sign! I will keep in touch. Thank you very much for sharing this valuable update to us!
Cheers~
I read so many analyzes that tells bubbles are bursting. Well it is really depressing. You seem more optimistic but do you feel sometimes that crypto-world is collapsing? And BTW, is it worth investing in? Since it's really cheap now. Thanks for the information and motivation.
Imho, this is a superb time to invest bro but big possible profits always go hand in hand with higher risks so the golden rule is and will always be, "only put money you can afford to lose"
I agree, especially investing lots of money in a coin which is really new, is not an intelligent move. I missed the airdrop and quests with 2 days for BTW and when it entered to a market with a 1$ price i was really sad. Most of my friends got like 2k BTW from airdrops and stuff and 2000$ is not bad for doing nothing. I was going to invest in like %10-15 of my money. So its nearly 2 million $ :P
Excellent technical analysis of steem and your analysis really help me in day trading, i also like to mentioned that steem it is growing far better than SBD and right now we need to convert sbd to steem and then hold steem and we surely see great results in future.
steem & bitshares has very low risk. They are showing very steady growth...... no pumps & dumps.... .... & qualities in steem everyone knows here......both have brightest future.
I also noticed Steem's improved behaviour the other day. You can see the article HERE Thanks for sharing.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
I agree, especially investing lots of money in a coin which is really new, is not an intelligent move.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
I watch price action, mostly out of being neurotic other than anything else since it doesnt really bother me wherever it is.
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
Of course, from the looks of things, it might coincide with a stock market crash....
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
What goes around comes around!
This is the essence of Steemit....it really sums it up.
This article pisses me off....I thought I had it down but now you are making me think.
I have some LTC that I want to lighten my position in and I was going to keep it knowing that it will see a big run. However, you are right, STEEM and BTS will also see a big run. So, perhaps I am best off moving some of my LTC to them at this time....
Oh the problems we have. LOL
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
Mr. MagooCheck our latest multi comment spam update report
Wow!!! Nice post.. I always follow you... You post is really awesome