Hello followers,
Today i will be showing my view on steem price and giving you a basic TA to start your own journey or follow mine!
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Steem chart on 29 january of 2018 (Source)
So unlike alot of people i am going to explain to you what i did on this chart and what i am looking at. So obviously i want to predict where steem is going and make money. Just like most people. I am an investor in steem but also a trader so let me walk you through this TA. You are here looking at the daily chart, because i am looking at a long term view for steem.
The black lines are where the support is. So this means because of past history of not dropping lower then this price or bouncing on this price u will have support. So the price will have a hard time dropping below these support lines. As you can see steem has a two black lines (support lines) close to the price. This means steem will not probably not drop alot in the upcoming weeks.
The blue lines are where the resistance is. So this means because of past history of having a hard time breaking those prices u will find resistance. Always be on the lookout for prices that are breaking a resistance line (But next time more about that). If steem could break his first resistance it will probably shoot up. Until the next resistance blocks it obviously.
Indicators
So i am also using three indicators here. The Macd, Moving average and ADI (More info about these). If you look at the ADI you can see that there isn't a strong or weak trend. The moving average is just excatly moving on top of the candles and the macd is bit bullish but no real indication.
Conclusion
Steemit will be steady for a long term investment right now. I don't see real indicators for a break-out or a break-down. So steem will probably move around in between my first support and resistance line. Still i consider steem a good long term investment, because of the fundamentals.
Disclaimer: not financial advice
Author: Bartcardi
A follow, comment, upvote and resteem rare highly appreciated!
Stability is what I like to see with Steem/SBD (and any other cryptos). People always tend to only want to see break outs ... but those always aren't sustainable. I'm liking that Steem and SBD prices have managed to stay at their current levels without dropping or increasing so much so quickly
Well said, because everyone a coin goes up alot it drops back down for 50% or more. Hope steem/sbd can gradually grow would be the best.
Ine one of the post on steem price prediction and other aspects analysis by none other than @jerrybanfield, he predicts $10 price of steem in coming months and then he won't be surprised to see the price shooting towards $100 mark? What's your take on that buddy?
Thats a good one, @jerrybanfield is the person who got me into steem so much love and respect to him. But jerry is really postive about steem because of the fundamentals of steem. So he doesn't look at these charts that much he believes the concept steem is so good that it will sky rocket. I agree with jerry on this but maybe his price prediction is a bit to postive. But $10 in the upcoming months is possible!
There was a dtube interview with witness @aggroed recently in which he expected that steem wouldbe at $50 by year end. Now I like this Jerry Banfield guy, he's a very genuine nice bloke Id also suggest he was talking with passion and love as opposed to cold hard analysis !
What is good though is that these people truly believe in the ecosystem and thats got to be worth a point or two upwards.
Yeah definetly. Its also that the creator of steem is now working on EOS. So there is not a steem team thats is doing the marketing of steem so we users should do that. And those guys are doing a hell of a job!
Steem hit trend line support and has bounced nicely. Seems like there's alot of momentum behind steem, BTFD!
Excatly mate. Just glad it bounced!
good information keep it up
Happy to say steem excatly bounced on my support line :)
yes
Hallelujah! A real trader who explains clearly and simply to idiots like me what we're looking at. Thank you. I'm so sick of 'wannabe cleverdicks' on this platform just posting a chart without explaining anything. (due to the fact they have no idea themselves).
For what its worth mate, you just got an upvote, resteem and follow.
I use this site to learn more than anything so thank you.
Will now spend the rest of the afternoon trawling your back catalogue :-)
Best wishes to you.
Thanks great to hear mate. Doing this for people like you who are also tired of those "wannabe smart traders" and very happy to help!
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good analysis, do you think that steem will reach $20 by the end of 2018?
definitely!
yes but nobody knows!
Thank you for really explaining these in layman terms... Now I fully understand and I am less worried about my investment in Steem.
Thank you @bitcardi
Nice bro
Great analyses and at the right time .
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I too believe that steem will trade sideways for a while and slowly make its way up. The fundamentals and release of SMT’s will propel this platform.
Thank you for the explanation and to build trust in the steem coin. I will add this to my long term plan.
Great post @bartcardi, thanks for sharing your analysis!
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Doge coin is going to hit hardly and definetly will give great benifit to Holders.
Don't just don't please haha
Dogecoin is joke coin mate it just riding with the crypto hype. Eventually this coin will collapse take your money out before this happens
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Another reason for the good performance of the SBD is the real business model of a crypto adjusted social media platform. Only 3-5 crypto currencies will survive. Bitcoin and SBD might be two of them.
why sbd and not steem?
goood
Could the 2018 portion of the chart potentially be a double top pattern?
No different tops.
Thanks for your reply. I'm still learning and find your post very interesting and useful. Out of curiosity is it better to use the candle body or the wicks when plotting patterns? Cheers
Great post
You got a 13.46% upvote from @postpromoter courtesy of @bartcardi!
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With looking the growth in user base, its spreading across the different verticals, i think Steemit is the future of Social media. Regarding the price of Steem, I would say, steem will be $100 by 2018 end.
Looking good!
I wonder if you can get your charts to be a little larger. Tradingview allows you to save a snap shot and save it. Then when you post it here, people should be able to right click on the chart and click "view image" to get a full size image.
I love the TA for steem, but the fundamentals for this one will overpower any resistance. Also, due to the complete capitulation of most investors in late Dec. there is very little "memory" of the previous accumulation points, so very possibly we'll see minimum resistance on the way back up.
Keep it up and much success.
What are your thoughts on PLR?
https://steemit.com/bitcoin/@bycoleman/pillar-vs-eth-showing-high-volume-uptrend
This is a great reply. I am also still learning but i do think the fundamentals are the most important thing with steem but it still important to look at the resistance and support in my opnion.
Haven't been looking at PLR at all. What do u suggest.
I did very quick glance at it this morning, it is looking pretty solid with a nice volume spike.
https://steemit.com/bitcoin/@bycoleman/pillar-vs-eth-showing-high-volume-uptrend
Left out any detail TA on this one, keeping it simple was all that was needed.
What your take on it?
Have really no idea to be honest mate. Don't want to give u an opnion just to say something. when i get a well educated opnion on this i well let u know.
Can we use steemit for photo sharing like facebook/instagram?
Yes go to steepshot
DO NOT IGNORE THIS COMMENT !! EYE
Hello nice to meet you! I wanted to ask for your support to donate: Diapers, MILK, medicines to families, especially newborn children, who do not have the money to buy your contribution, just vote or with a retest, it's enough thanks.
here the link more plicado
https://steemit.com/help/@jesusj1/collecting-funds-for-pregnant-women-and-their-children-read-to-know-why-your-support-is-valuable-please-help
As a brand new member of the Steemit community, I would appreciate a follow :) I will start posting every day, and the posts will primarily consist of CRYPTOCURRENCY NEWS, MEMES and GRAPHS.
Speak with me about NEO?
NEO is great but ether has huge control over the western market. So hopefully for NEO china will accept crypto and NEO can take that market. Can be huge profits in NEO this year
May be keep it in the 2018
As a brand new member of the Steemit community, I would appreciate a follow :)
really god idea
wanderfull
Thanks for the analysis. This is one for me to watch
Thank you so much and I like this. I got a lot of knowledge from your post.
Perfect post. I like those who are so nourished by information and wonderfully explained how yours. Continue reading quality pst like this. Regards
Great to hear thankyou Laura!
I liked this sir. Thank you