$STEEM/BTC - Poloniex Technical Analysis - Trading Idea #8, 01.07.2017
Steem looks like it's getting ready for a third round.
Price it's at the support line which was previous resistance. Also there is double bottom.
Entry:
0.000600 - 0.000700
Targets:
0.000775
0.000899
0.001000
New ATH is likely posible if this scenario turns out to be correct. Market loves cycles so let's see howit goes..
More conservative entry at the break out of the Resistance Line.
My analysis is also based on the 2 previous patterns which indicate that clearly if things don't go wrong steem is going to follow the same pattern again.
Disclaimer:
Crypto Trading is risky business and you can loss partial or full amount of money. This Trade view is not a guarantee and only my personal speculation. Trade at your own risk with that money only you can afford. Bitcoin unexpected pump or dump will make this analysis void.
good job
Thanks !
Thank you for the T.A on steem.I love steem so much,I am going long on steem for 1-2yrs.I know it has potentials.
You Welcome ! I will post more info every day...
I've also noticed that over the previous two massive movements upwards it gave back over 60% of the move upwards before moving to a new ATH based on Fib retracement. So you very well could be right here. And I'm hoping so :)
Same here... Looking forward to some strong move up.. Good time to accumulate more STEEM :)
Yeah that is s good point. We are likely nearing the cheapest price for STEEM for the foreseeable future. But If it does drop closer to $1 time soak it all up :)
What do you thinks about that? How about outlooks at July 2017? We must always optimistic...