Crypto News - STEEM pushing upwards!
What a sneaky markets these days! STEEM is getting a boost while the bears and bulls fight over the big caps.
I admit I got shaken out both up and down lately. Good time as any to remind of the importance of position sizing. If there is no clear momentum, there is volatility, and then is near impossible to set stops that work. Only way to go around it is to keep smaller stakes. That won’t destroy your account, even if you are wrong.
Just when you think big holders will dump on us, they decide to buy instead! STEEM is/was up a good 40 per cent from the recent low! Not bad at all. I tried to mark potential fib zones measured from the last peak before BTC dumped. It’s not unreasonable to claim we might see 1000 sats before it deflates. But you never know, BTC price will ultimately decide. However, it’s hard to argue with that big green volume bars.
SBD has really made my day. All the way to 50 cents and we were back to 90. This coin is a veritable playground for people with deep pockets. Primary reason is small marketcap, a million dollars can push it sky high. That’s the reason I’d hodl this one, unless you are pressed for cash. I find it easier to measure the value in sats. Who knows, maybe we see another huge pump like the last one! That would be fun, wouldn’t it?
BTC is just so hard to gauge. Since the big bounce we are in a very choppy, and very volatile range. It could still go both ways, so tread carefully.
ETH is in similar situation, below the 10 EMA on daily like BTC. That is the danger zone since it often functions as a wall. There is the delayed fork due to security reasons so I’d bet many have their finger on the trigger.
However it turns out, it shouldn’t be long now. Total market cap seems to be breaking upwards form what seemed to be a bearish pennant. That’s nice! So far middle cap names benefited the most!
Have fun and trade carefully!