STEEM getting ready to go on a bull run....

in #steem5 years ago (edited)

With all the markets down the past week or two, I have been sitting on the sidelines waiting and preparing. There are a lot of tempting charts this week, with a few coins nearing their key resistance levels. One of those is STEEM!

Show me the chart!



This is a 4 hour chart, going back one month. We are nearing the end of a triangle pattern. Steem can either go up or down from here.

Why am I so bullish after seeing the triangle nearing it's end?



This is the 4 hour chart going back 4 months. We have seen triangles before and Steem has popped each time.

What about fundamentals?


Fundamentally, nothing has changed over the past few months. In fact, the usage of Steemit is higher than ever. Steemit is still experiencing a high level of growth, just like it did the past 4 months.

  • Alexa ranking has climbed to 4,970 globally and 1,399 in the US
  • Number of Steemit users has more than doubled in past 6 months
  • Post and Comment count has doubled in just the past month
  • Active users has quadrupled in past 6 months

Steemit Stats courtesy of @arcange

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Hopefully we see the exchanges actually hold up. Seems to always be the negative on the cyrpto market.

Yeah, that's true.

Nice analysis! Followed you

Agreed. Looking to free up some cash to buy some SteemPower. Would like to get at least $500 to make it to the next level. Of course I'd love to do more. Will have to move some funds around and see what I can do. This may actually get me off my butt and finally start selling all my collectibles on eBay for Steem funds!

Oh that's a good call. I should do some spring cleaning too!

Great analysis! I just purchased some Steem. Well Steem Power to be exact! I am looking at the earnings on the Steem Power as a dividend. Gotta re-invest the divs to see the benefits of compounding!

Same here. Not only is it an investment like other crypto currencies, but it also provides a very nice dividend if you have an account here. It's like double dipping...but you're allowed to!

FREE 0.00006445 BTC $0.16 USD FOR DAY

FREE 0.00193347 BTC $4.91 USD FOR MONTH
ITS PAYING OUT EVERY 12 HOURS
CHECK OUT MY WALKTHROUGH ABOUT THIS
https://steemit.com/bitcoin/@quantumdragon/nanohash-bitcoins-real-1

🚨 SCAM ALERT 🚨
Look up Nanohash on Youtube or google
Looks like a fraud
@Wiedy

nanohash is still paying you are a spamer im just spreading a new mining cloud, its paying out so is not a scam if you can prove it is a scam give the info, not just writte on all my comments the same, i can do it back and flag you because its paying right now and is online http://nanohash.net

Do you mean I am a "spammer"? How do I spam if I am just commenting under YOUR spam? I just want to warn people so lets see who gets more upvotes.
I think Nanohash is a scam because there is no real support on their site, they say the telephone number is coming soon, the registrated adress is a small landside in the UK, the server is in russia, there are numerous articles that users had a bad experience, they tell you min payout is 1$ and then they tell you its 20$ and you should mine more...
You just want people to use your affiliate link thats all!

But yeah, thanks for the downvote!
Rant over @wiedy

indeed. they said that their datacenters are from russian federation iceland and germany, and so then why is paying out right now? scam is when someone invest and loss they are giving for free 15KH/s for anyone who wants to start a mining bussisnes, and they are paying out, look payout 0.420 BTC in 9 days, its my second day and look there are the double of new total users, im the 4325



https://www.nanohash.net/about

You Sir are straight up naive!
As you say you are there since two days and never got a payment!
They dont even tell you what coin you are "mining"
They claim to have paid out whopping 0.42 BTC thats not even 1500 USD haha; 12% interest per day 4500% annualy I mean come on man

Happy 4th of July
I am not going to answer another time @wiedy out!

loving it so far! wish the blogs loaded faster like reddit though!

Hey! Great article! But I would rather make money by shifting to USDT and waiting for the great July's dip!
https://steemit.com/bitcoin/@crypto-insider/bitcoin-will-collapse-this-july-make-money-out-of-it-usdusdusd

Loved this article. And the technical analysis look convincing. I think we are in for good times :)

I hope everyone makes money, power to the people!

Great post! What excites me the most about Steemit is the longterm potential of competing with Facebook, Reddit, etc. Its really in a class of its own but the masses will compare it to these sites. Thanks for the insight!

So much great news! Upvoted!

Nice looking chart! If it breaks down that would just be a buying opportunity longterm.

quoting, "fundamentally nothing has changed."

And then you go on to list all the fundamentals which have changed.

Proof read - not good to contradict yourself in two neighboring sentences.

If you had changed the text to say that in fact many of the fundamentals have changed substantially, that would have supported your point from technical analysis that an increase in price is likely.

For the record, I agree that the next leg will be up in price.

STEEM On !!

Dave

Not sure if my statement was contradictory. The fundamentals are the same as before...it's a high user growth website.

But, I do appreciate you actually reading my post and commenting!

I was reacting to the following two sentences, which appeared contradictory. Perhaps they were not intended to be.

Fundamentally, nothing has changed over the past few months. In fact, the usage of Steemit is higher than ever.

Fair point...edited.

That was a 100% upvote, that's all I got. Don't spend the dime all in one place. LOL.

I agree, now is the time to invest in Steem. In fact, I may do so tonight! Thanks for the reminder. :)

Agree. That's why I spent some of my BTC to buy STEEM

Yes we'll soon see what gives......

Thanks for your timely advice. Thinking to buy steem very soon & getting ready to power up..

This post has received a 2.04 % upvote from @booster thanks to: @financialcritic.

Haha, good one, I agree

Hey mate,

I've seen your work grabbing my attention while clicking on the various tabs, and have finally have given you the follow. Keep it up!

I'm a technicals guy myself and love the look of this chart:

But what experience tells me is that it's 'too good to be true' and is just waiting for a correction.

Think about it like this: Each time that pattern forms, traders who long it will put their stops just under the last. They do it again and again putting more and more stops in just below the bottoms of those triangles.

When it finally stops stepping up, all those stops are going to be in play and things could get out of hand quickly.

They'll get cleaned out, but that's when the smart money buys again.
I'm excited! :)

Yeah....I'm definitely still learning about technical analysis. And you are 100% right....looks like that's exactly what happened w Ether yesterday. Once it broke through the resistance, the stop losses were triggered and the price dropped even more!

Thanks. I think steem will be so much higher in the long term. The numbers of users are only around 200k which is as small as a fan page in facebook, so there is plenty of room to grow and also the number of user are picking up everyday. So fundamentally, it is very sound.

Yeah, the growth has been crazy.

upvoted and follow.... if you want support me too mate as i am new here but i am a good photographer have a look at my travel post, thank you https://steemit.com/travel/@bllackwidow/sakis-my-trip-to-iceland

Good news!!☝

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