Steem Analysis. Next Impulse is Here (#7)

It was about the time to ride up. And Steem doing just that. Steady to the new all times height.

Now it time to put new way of analyzing price charts to the test. In last article of TFDSRE series #4 I put together a strategy to use EP lines together with MACD, RSI and Ichimoku cloud indicators.
Price have formed double bottom way below Ichimoku cloud. Rsi is in oversold region and MACD lines are below the center line. Price just easily penetrate all lower and 28, 45 EP lines and bump into a resistance on 73 EP line on the lower margin of red Ichimoku cloud and MACD lines just touch center line. This indicators together saying that we already pass a bottom of downtrend and we are headed up. Fibonacci proportion AB-C is 78.9% (78.2) almost ideal. so next point D will stay at 127.4 - 161.8% Fibonacci proportion to the leg BC this give us a target price between $9.60 and $11.30. This will be for certain a new all times height.

So Steemians HODL and enjoy the "easy ride" to the all times heights.

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Prevoius analyses: #1, #2, #3, #4, #5. #6 It's good to check previous posts to get wider picture of price movement.

Check this new way to analyse charts with TFDSRE to better understand this analysis: #1, #2, #3, #4 .

Image sources: Investing.com,

Data sources: Bitfinex exchange

Disclaimer: If you use my ideas and analyses in your investment ventures, you take all responsibility and consequences about your actions.

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Let steem on, to the bright future!