The Price of STEEM Got a One Day Pump Giving Us What We Needed, Technically.
The bottom line is I look at price action with a view point of ranges. A couple days ago the price of steem was in a range with a down side of 80 cents. This was not exciting!
One Day Pump to the Rescue!!!
It's not just the big green up candle we got, but also the large volume spike yesterday. It was random, it does not look like there is much follow through so far, but the move was well needed.
It was needed because it got price back above the $1.60 support area. So now, hopefully that can be our new floor and we can worry less about 80 cent steem.
We shall see what happens over the coming days. A random one day pump isn't the highest percentage play for follow through in the same direction, but at least it gives us a fighting chance.
Need to learn the basics about bitcoin, the blockchain and wallets?
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Steem has really done us good. Thanks for sharing :)
I just hope that pump can be sustained.
I don't think we are in the safe zone yet. My imaginary sloping down trendline is not broken yet. :D Well, we are in Q2 so, let's see. :)
My sentiments are the same.
Hopefully we see sideways movement at this point. I think $2 STEEM is a pretty great price, all things considered. I think we have room to get much bigger than that, but I think it's a good place for it to settle for a while considering how low it started last year.
I bought some today. Figured it was a good time to add to my collection. :)