Steem(STEEM/BTC) Update 29/07/2017: Touchdown Has Happened, Now What???
As expected, Steem has touched the lower supporting levels. Steem is now trading at 41k satoshi after touch down of 36 k satoshi level. In my last update i.e. https://steemit.com/steem/@jimmyrai28/steem-steem-btc-update-28-07-2017-fasten-your-seat-belt-for-another-touchdown, I predicted that move and it happened exactly like that.
Now, let me take your attention on chart below to get a sense of next possible move....
I noticed following points after looking at chart above:-
- Falling Channel: Steem has touched the lower falling trendline of this channel today. It get quickly recovered from that downmove, but still trading with some negative bias. Hammer candle also emerging on daily charts which suggest possible reversal if tomorrow steem forms green candle.
- Support Line 3: This horizontal support is at 39k satoshi level and after today's downmove steem is trading above this support level. In past also steem has given bounce back from this support, this time too i am expecting a bounce back.
________________________________________________________________________________
Now The Conclusion
In conclusion, I am expecting a bounce back again in this script. Some bounce back has already been happened today.
But, one can still look for trading steem for bounce back again with a target price of 48k satoshi and then 55k satoshi.
With that said i rest my analysis here.
________________________________________________________________________________
If you like my analysis do not forget to upvote, follow, comment@jimmyrai28
if not then criticize, this also will be highly appreciated.
You can also drop a comment in 'reply' if want you want me analyze any script of your choice.
Now you can also find me on discord channel: https://discord.gg/VvHmhvH
thanks for sharing , But If I want to buy some steem Is it right time or I should wait for some time ?
BTW Followed you and lets connect on steem and grow our account :)
Its going to rocket on tuesday so its up to you.
Steem is at trading at bottom level, and if ur view for investing is long term( one-two years), it is a right time to invest
Thank you , I will buy
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by jimmyrai28 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.