Hello dear followers,
Here is my update regarding STEEM. We are currently testing the support line of the triangle :
Till now, this support line is strong enough and the market is not able to break it. However, I don't exclude a "Head Fake" like I showed you on my previous analysis :
Let see what will happen in the coming days. As most of Steem investors, I really hope we won't break that line or if we brake it, it must very short to allow us to go back asap inside that triangle. if we have this kind of scenario (Head Fake), it could be the signal to have after a break out UP.
I will finish by remembering you that the market wait often that people capitulate to change direction and that the Head Fake is often used for this.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] STEEM - Nous sommes en train de tester la ligne de support
That D1-chart looks like a cup-and-handle pattern to me. So it could follow a reverse cup-and-handle. We will see. Thanks for your excellent post.
Yep and the C&H, when it breaks up it is powerful and a large move.
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Steem will most likely bounce above the $1 market after the bitcoin fork-fomo is over in November.
Great allways good content
thnx @cryptopassion
Lets hope for a head fake!! And still, there is the Bitcoin fork joker... It's coming sooner than expected...isn't it?
I wish it stays down after the fork so that we can buy. Sorry guys :) but I guess you can't wait for a day. :
Hopefully when all this fork nonsense is over , we will be on the up again
Great post! I dont see too much technical analysis here. keep it going!
It looks to a flag setup to me. Ready for liftoff?? :)
I have a bid at 0.00015/ BTC so I doubt STEEM will drop that low lol. It’ll probably hit .0001501 or a little higher as the low point. I know it dropped down to .000148ish the other day but I didn’t have my limit order placed yet.
Looks like the support is proving to be stubborn which is good. I don’t want it dropping lower than this key level.
I am hoping for a break of support...
Personally, I welcome a downward move so that I can add a much bigger position. I am a long term bull.
Things are lining up very well for a drop and then big run....
People are complaining about the site, getting frustrated, and even starting to power down. This is the stimulus that will drive the price down yet that does not change the potential for this blockchain/cypto long term.
The developers will get past these present technical issues.
price could drop further?