Steem has formed Bullish Flag | We are going to hit $10

in #steem7 years ago

CryptoKraze here



In this post I am going to cover technical analysis of Steem for Mid term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Steem.



Possibility on 4 Hour Chart

steem4hr.png

If you look at 4 hour chart, you will see Steem has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready. I was waiting for this dip to get in another short trade.

  • I have a new buy entry at 0.00043100 with my profit target will be around 0.00075000 or above.
  • Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.


Have a look on my other Posts

Bitcoin Technical Insight by Crypto Kraze | We have started Journey to $24,000

Averaging Technique in Crypto Trading

Steem in Process to Form A Cup & Handle Pattern on Major Resistance Level

TenxPay Technical Analysis | Symmetrical Triangle about to breakout



If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis



Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.



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I really hope so. $10 steem would be historical

$10 is a tree milestone, you are yet to see the Forest milestone that will be $100

Lol i have not lost sight of the forest. That’s a money tree forest

I d love to see that! Let s see where it goes

Yeah lets see, we already have good jump so nothing to loss even if we have to wait for few days as well.

Nice, we would love more analysis

@cryptokraze with your post and your chart I have know that coin appreciate and depreciate with time.
Thanks for this update.... More grace

Loks more like a sell off than bull flag, A bull flag is more of a zig zag??

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