Welcome back Steemit !!!
I have decided to do #nobullshitta on Steemit, focusing soly on trading Steem . I will try to mix in this commitment with my work schedule, ideally I will keep track of Steem but only update you with the most interesting T.A events
STRAIGHT UP, this is the price level to buy. It definitely worths a shot at this price level
But first, let's make sense of what happened and why Steem reacted the way it did
Please also note that descending triangle has been formed over the last 10 days, especially reliable if it's been formed in 1hour time frame.
What can happen next when descending triangle formed is explained here in my previous post
- Now is the best time to POWER UP at your CHEAPEST COST -
However, for me I will buy here around 0.00325 level. Because of reasons
The fact is people are cashing out of steem. Even Whales or Dolphines, they all have been cashing out of Steem for various reasons, usually to maintain appropriate/balanced exposure to Steem vs other cryptocurrency. Yet cashing out Steem for money is different from selling off/rushing out Steem.
Fundamentally speaking, Steem is now much better when we last talked
- better quality of posts that receiving 5-10k$, no more rip-off make-up posts
- people are promoting Steemit widely in public media and events.
- Stable platform, new apps and tools to facilitate communication and transparency within the community.
SO… this is the opportunity you should not neglect
1. you should hold/buy your Steem.
2. MUST NOT POWER UP because the threat of descending triangle breakout is real. If Steem breaks down, the next resistant level according to t.a is 0.002, the maybe a slight pull back around 0.003 if you want get to out of your long. You do not want to commit your money in Steem for 2 years at this sensitive level because of potentially huge opportunity cost.
Side story, I have been compared to @ozchartart by several people. I personally don’t like to judge other people works and also I do t.a solely on Steemit which is different from @ozchartart.
But there maybe these points that you may want to consider when looking at my t.a and other people t.a
1. as a trader, I use T.A as a guide to make money
2. Other make T.A as a way to earn money
3. T.A don’t need to be complicated, T.A need to be logically sound and appealing to its users. For my T.A, I make it personal, I explain to you as how I would persuade myself to take the trade.
A peek at the number of T.A reports flooded into my account that were never get a read.
- Fiver -
Haha I bought steempower a little while ago
@prufarchy: depend on what price the Steem was at. It may not be a bad move at all. I actually recommended in my post to power up when steem was around 0.0040. For me, the opportunity cost will help us making sense whether to power up or buy steem :)
I didn't look at the price. I have crypto set aside for when I get a Steempower bug... and then I just buy.
I auto buy bitcoin the same way... it eases the anxiety about prices, etc. But I also buy bitcoin whenever I can get extra too ;)
yeh it makes sense what you decided to do if you are not watching mkt constantly
since i get a feeling that you want to long term invest in cryptocurrency , you are not that much price sensitive anyway
goodluck buddy !