I have seen a lot of people dumping all over the recent price drop and rank drop in coinmarketcap, but have seen very few people talking about the recent price run of Steem so I thought I would give a quick look.

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Coinmarketcap Ranking

The lowest ranking I've seen Steem on coinmarketcap recently was 51. With the recent run of price, the highest that I saw Steem was rank 41. I'm still disappointed that we are once again below Bitcoin Diamond. I can't believe both Bitcoin Diamond, Bitcoin Gold, and Ethereum Classic are higher than Steem and some of the other cryptos.

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Trading View Thoughts

I was hoping that Steem could stay above the 1000 Satoshi (0.0001 BTC) support, and it still can, but as of right now Steem is trading around the 993 Satoshi according to TradingView. I'm hoping that by the end of the day and the end of the week it's back above 1000 giving a good indication that the local bottom may be in and Steem maybe climbing for the next bull run.

One Day Chart

If this support doesn't hold, my next area I would be looking for the price to stay above is the 800+ satoshi mark. As you can see from the above chart it was support at the beginning of December turned resistance towards the end of December and beginning of 2019. Since I haven't bought any Steem sub 1000 Satoshi, that is where I'm going to set a few buys at.

Weekly Chart

Long term I'm looking at the 1300 to 1500 range. The price accumulated in this range (back when Bitcoin was steady around $1600) for most of the last half of the year. As you can see on the daily chart we bounced into this box a few days but wasn't able to close inside the box. I'm hoping the next price jump we see on Steem either closes in this range, or best case scenario blows past and bounces to the 2000 Sastoshi mark for a 2x of current price.

We haven't been anywhere close to the 2k price since we broke through it mid-July of last year. I think the next time we hit 2k will be a good indication of either the start of the bull run or indicating that we've already started the bull run.

My Trading Plan

I was hoping to have more liquid Steem to be able to start taking profits, but since I wanted to purchase some EOS to play some Dapps, I don't have much liquid Steem available for trading, plus to be completely honest, I wasn't confident with my plan of selling at 1200 Steem and second guessed myself not wanting to miss a move higher.

I'm posting my next plan on the blockchain to hopefully keep myself a little more accountable. When the price hits 1500 Satoshi I'm going to sell 10% of my Steem (as long as it meets the minimum trade requirement) and sell another 10% at 2000 Satoshi.

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I'm not selling because I don't believe in Steem, but selling because I believe that once price hits those prices we'll see a little bit of a pullback and I'll be able to buy more Steem for cheaper, and I'm kicking myself for not taking profit during the previous bull run. If I would have sold some of my earnings during the bull run and bought back most during the bear market, I could have easily been a dolphin at this point.

TLDR

Looking to buy Steem 0.00008 BTC

Looking to take 10% Steem profit at 0.00015 BTC and 0.0002 BTC.

Are you going to do anything different in the next market wave or you just going to keep calm and hodl on?

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