Lots of things are happening in cryptospace. We're seeing coins like Dogecoin being pumped 60% in 24 hours, madness I say.

The opinion of crowd can change quickly

So there's a lot of money moving around hoping to get rich quick, jumping from one coin to another. Keep this in mind while trading and investing.

If you're looking to invest for long term, research and believe in the project yourself, this makes the holding easier! Can you trust the developers, what kind of track record do they have? These are just some of the questions you should be asking yourself if investing. For quick trading it doesn't matter that much if none at all.

In future I will be sharing some promising projects with you guys, and I hope you guys keep sharing your findings as well with the rest of us! So much is going on currently that just one can't keep up with all the news!

Now to Steem charts

4hr timeframe

Daily timeframe

What comes to your mind when you look at the charts above?

We know communities are coming and there is HF19 around the corner with linear reward curve. Only those who follow Steem closely know this however. There are also projects like Steepshot and SteemQ and Zappl being built. These are all good, bullish news for long term. So let's take a look at Monthly chart, shall we?

Monthly timeframe

To me it looks like bottom has been found, and with volume. That's a confirmation of trend change in my mind. If you want to have less risk, look at what the long term trend is and do not trade against it!

There's only one tool in this monthly chart that we can see and it's called Fibonacci lines. Lots of traders use it so it's good to always check what they are seeing when they are looking for points to exit and enter trades. I'd say Steem has a good shot of reaching the green areas shown in this chart, before the trend changes again.

I'm not saying new ATH is out of the picture, it all depends on how the communities are received by the community and some few other things.

Conclusion

If you want to play it safe, be ready to buy at support area #2, but keep an eye on how Steem behaves on 4hr timeframe and with the first support area. I'll be updating these charts when needed.

Important: Before you trade!

Always have a plan before you enter the trade! When will you enter the trade, when will you exit? And stick to them!
Otherwise you let your emotions dictate your trades and that is not good!

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Disclaimer: I am not a professional trader. Do not trade based solely on my opinions represented here, or do it with your own risk! - They are just my opinions and my interpretations. So do your own research, as you only have yourself to blame when trades go wrong and trust me, they will go wrong from time to time and it will feel bad.

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