STEEM market view 6 March 2019steemCreated with Sketch.

in steemxp •  15 days ago

Time frame : 4 days chart

Market shown major steem movement since last year. The main trend is still downtrend .

Time frame : 1 day chart

Since january , we can see minor bullish and the bulish trend may been cause by introduction of @wherein dapps in China which i have explain it in my previous post :

https://steemit.com/steemxp/@tommyl33/steem-in-china-new-beginning

After sudden bullish in previous market , there come massive selling from whale player and the market start to going down again . But , this is always happening in any market out there . The logic , after rumor or selling and buying at certain market price , the market price will follow the real trend .

The good thing in this chart , steem seem forming bullish flag (blue marking) . The resistance seem form at 0.41 cent , and the market price havent break that resistance value . While the chart consistently show bullish flag or triangle and cap by the bullish resistance.

Let zoom in in recent steem progress .

I hope you ll understand what im trying to write here ,
If you can see the blue line above is resistance price , here the market need a huge momentum to cross these resistance if it want to make bullish trend , but do remember not every price cross that line will become bullish momentum because we also another bearish momentum that we call fakey , where there was huge pending order to sell at certain price that can change the price going down .

Please put in mind that you have to be carefull on your trading , my explaination is not necessary true because it just how i see the market . Trade on your own risk

The we can see blue line below which is building bullish flag where the price playing in this two blue line until the market decide where it go.

Those red line show minor resistance , you can see sudden drop or bear i those market and it going bullish in next day because the whale player pun huge pending order there that make those correction .

The yellow line is a trend movement , you can see i circle 5 candle 2 small bull doji and huge bull . This perfect combination of marker movement and you can see huge volume being trade that time . this few day , we show small in range market and we waiting those market make new high or new low.

I have big believe that steem will goes up , not because of the market but their vission in market.

I hope you have some idea what happening in the market now .

STEEM ON

@tommyl33 is thinking for next move

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hopefully

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we still dont know where it heading to , still waiting for breakout confirmation . but for now , the bullish bring a little hope for us

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Oh I know where we’re going, and it is up!

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The crytos are the future, but I can not stop thinking what will happen if they continue with their instability?

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rumor say , the fiat whale keep pushing the crypto value down so they can buy it and has control on it

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double bottom with bullish flag

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Looks like market on a recovered state, this was good too for steem but i hope this is not another trap.

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yeahhh , just be patient . we wait for buying signal if you are the investor type . if not, we just steem on 😂😂

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If it doesn’t break resistance might go down again that double top bothers me

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we will see what happen next few month ☺️☺️ .

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That is true wait and see 😎

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I am new to Steemit hope I can understand all this asap.

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well its ok if you don’t understand because its just how i read the marker movement . just steem it on . :)

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Thank you for your encouragement. Hope I will learn more and grew fast on this platform.

You bet on @wherein but how many users use it and how many are onboarded by this app. I guess not so many.

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well some dapps make some noise too in increasing value in steem . The recent dapps that has going up to number 2 now like @drugwars

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Picked up a lot of steem. I think these are the lows for price although steemit may need some big news to take it with the charts

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its recently hit at 21 cent in previous market 😱😱

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thanks

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Congratulation you win the "Make it rain" upvote round ! because you deserve it ! keep posting and Steem on !

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thanks

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