Modeling STEEM - 24May - Reaching For LongTerm Prime

jonknight (59)in #steem • 6 years ago (edited)

If you were watching you might have noticed a nice run earlier this morning in the price of STEEM. Happened right after a little tap down around the new Short Term 0 line yesterday. Both of these are about as bullish an indication as I can imagine right now in this model.

Larger Image

I'll be looking for Price to move through a wedge created by the ST0 and Peak Outlier as Price finally moves out and away from the Extended Fall Channel over the remainder of May.

I'm interested in the divergence of STEEM and SBD lately. Would love to hear thoughts on that from the community.

NEVER TRADE YOUR MONEY BASED ON MY WORK OR ANY WORK OTHER THAN YOUR OWN. MY WORK LOOKS AT PRICE AND PRICE ACTION OVER TIME AND IS FOR ENTERTAINMENT PURPOSES ONLY. NO TECHNICAL INDICATORS. NO FUNDAMENTAL ANALYSIS. IT'S YOUR MONEY. PROTECT IT.

To learn more about Lines Of Force CLICK HERE

STEEMIT WITNESS BANNER.jpg

#cryptocurrency #crypto #busy #linesofforce

6 years ago in #steem by jonknight (59)

Sort:

johnkingwriter (54) 6 years ago

Hey Jon. Steem is looking really strong right now, especially when BTC is tanking so badly.
The divergence from SBD and Steem could be something to do with those in control of supply wanting it back around the dollar. Coinmarketcap has a circulating supply of SBD at 14 million. I'm pretty sure that back in January that was 7 million and Christmas 5 million.
That's some serious dilution.

$0.04

1 vote

[-]

jonknight (59) 6 years ago

Thanks, John. Sorry it took so long to respond. This past week has been extremely busy.

$0.00

[-]

jonknight (59) 6 years ago

Now that I have a clear minute... that IS some serious dilution. As in WOW. Thanks for the info. I haven't had time to follow it but have just noticed the divergence with steem lately. But we broke through our short term support on my steem model so maybe the divergence is correcting itself...
Thanks for adding that here.

$0.00

[-]