STEEM Trade Idea - Looking to Buy Support
Hey guys,
I got nice and distracted after a hugely busy day yesterday, so didn’t get a chance to publish. I did however have the charts you’ll see below ready to go, so I’m just going to leave them. The setups are still valid.
Today’s blog is just going to feature our old friend STEEM. The market is well and truly in play as price pulls back into a higher time frame level, so I want to take a look at some buying and trading opportunities.
Hope you enjoyed your weekend. I know I sure did!
⚽️🍺.
Cryptocurrency Markets
As I just said, today’s blog is all about STEEM. Open up your charts and let’s start with a higher time frame.
I’ve gone the daily here:
STEEM/USD Daily
You can see I’ve drawn the two horizontal lines from obvious areas of previous support/resistance. When there are two decent levels close to each other like this, I like to treat it as a zone so that’s what we have here.
I’ve also included a little order block where we so often see price pull back into before ripping higher. Within a support zone, it just makes things all the more significant.
Now step into an intraday chart and take a look again:
STEEM/USD Hourly
An intraday order block, inside a higher time frame order block, inside a support zone.
Sound like a buy to you?
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
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Any views on what caused that sudden spike at the 3rd hour? Great analysis overall and agreed though - I think there are bullish tailwinds coming and we should be finally breaking upward!
Yeah, it was the official steem blog talking about communities that seemed to coincide with the spike. All the volume was once again from the South Korean exchanges though, so it was always going to be pumped and dumped like that.
Now things have settled again, I’m expecting the above technicals to take over and steadily climb.
https://steemit.com/@a-0-0
Really wonderful article done well
Best chance to buy Steam Hua now really
agreed @roselover
Thank you guys.
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