STEEM/BTC August 25th 2018 Price Analysis

in steem •  last month

I like how STEEM chart is looking, is touching right on trending support. I've seen this pattern multiple times, the one I remember the most was potcoin last year. It did the same triangle until it reached the most narrow area in it and then it FELL. Yep. It fell freaking everyone out and that was the dip needed to take the price to an ATH, so don't think that because the chart looks awesome, it means the journey of price will be easy, it will have it's moments of doubt, suppression and volatility but all in all I hope to see STEEM price recovering this year significantly.

But honestly, it looks quite different from the potcoin chart.

Screen Shot 2018-08-25 at 17.29.31.png
STEEM/BTC

Screen Shot 2018-08-25 at 17.29.55.png
POT/BTC

STEEM looks like a massive bear flag in that perspective. So I think if we are bullish, price might dip like potcoin and then rise (what would be the reasons behind that move is uncertain, maybe bitcoin crashes and alts recover their btc value but lose their usd value) Maybe it's a bear flag for altcoins and bitcoin bullish move will drive their btc value down, while keeping their usd value up.

Let me know what you guys think in the comments. Thanks for reading.

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Hopefully it follows POT! Either way Im ok with price action. It goes down I buy more SP. It goes up Im happy too :)

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That's right. If it goes up, great, if it goes down, just get more. These opportunities in price haven't been seen in quite a while.

Well arranged post but I will be happy when the steem value rise up

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We all want it to go up, it's all, for now, dependant on bitcoin.

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Yep bro