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RE: STEEM Price Analysis – May 15, 2017

in #steem7 years ago (edited)

On the daily chart we are in a consolidation after the last leg up. So long as we hold this consolidation area steem is setting itself up for another bull flag. Things look more bullish on the daily than on the shorter time frames, luckily larger time frames hold more weight. However, until it pushes above or below this consolidation area it's essentially a coin flip. Though price action has been positive in the past month so it makes it path of least resistance.

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Well, the STEEM-BTC price hit my first upside target shortly after posting last night and just punched right through to upwards of 49K satoshis, so it looks like we might be heading for some range trading. We'll see how the rest of the day plays out. Could be time to make some money trading again!

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