STEEM - Bounce scenario invalided
Hello all,
So yesterday I was showing you that we used the support line to do a bounce and I was expecting higher highs to validate that bounce :
Here is the current chart :
We can see that our support line looks strong and stopped for the second time the drop.
However, I'm afraid that we break that support line in case of an important drop of the BTC.
One other scenario would be the "W" pattern that I traced you in green and which is a bullish pattern using the double Bottom.
I would suggest you to wait if this support line hold or not before buying new STEEM. You will perhaps miss the current prices but if the support line break, you will have the opportunity to buy them much more cheaper also.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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I wouldn't mind if it came down one last time now, I have some more fiat I would like to buy steem with ;) I'm confident that weere getting close to the bottom now, I can't see it going too much lower.
I need to buy more steem but will wait for it to dip further. Thanx for sharing.
Interesting analysis. Thanks for letting us know what to look for.
I have a feeling steem is really going to shoot up once bitcoin finishes its correction. Lots of big investors just waiting
잘봤습니다 굳럭
I hope that the cryptocurrency market recovers soon. January and early February have not been very good with the prices of cryptocurrencies. I hope Steem goes to the moon soon. Thanks for sharing.
Now we are bounced back to 4$, do you think it's still possible Bitcoin will dip more deep?
Everything is possible in the short term. BTC and altcoins are heavily attacked by governments and financial institutions. No one can say what the price will be in one week or one month but in the long run, there is higher probability for prices to conquer new highs and lower probability for total crash. HODLing is very difficult. Especially for those who are invested in with their significant savings. If the HODLers will manage to stay in, the sellers will spend their resources and this is where the reversal should start, but as I already mentioned, it is impossible to know, when this will happen.
thanks for sharing this information
I gave up trying to predict price of steem
Thank you for the advice,i hope the market recovers soon