STEEM Bearish DivergenceThe price bounced from 0.000600 level. A bearish divergence gives us a trend reversal signal. RSI confirms price reversal and MACD histogram supports downward movement. Probably we'll see the falling to one of possible support zones. The 1st zone is formed by SMA50 and 0.000300 support level. If we get a confirmed price reversal signal, we'll be able to open new long postions from this support. If the market drops below this zone, the 2nd support will be at SMA100 and 0.000225 support level. This zone will be able to give a buy signal with good potential profit.
STEEMBTC trade ideas
STEEM/BTC - Short-Mid RangesBased off my TA ive made short-long term target zones (ranges) that could be met. Im just starting to working on my short term TA analysis so please take this post as potential targets and do your own research before making trades on this coin.
Fingers crossed! & Good Luck!
(1-day candles, time frames may not be accurate)
GAINING $STEEM, LIFTOFF IMMINENTBefore I start the TA, let's consider the fact that, IMO, Steemit is going to replace or at least challenge twitter/youtube/facebook (since it has all 3 on a single platform, plus more)
Looking at the charts though, we've got beautiful signals all over the place and our wedge is so tight its about to flare up like a tiki torch. I'm in for 10% of my crypto holdings at this point, but I am no financial advisor, especially since I don't know your situation.
Targets are listed on chart but are as follows -- note theres no particular time frame to hit these, and if the chart loses form I'll have to recalculate all of it.
1) 53,000 sat
2) 58,000 sat
3) 65,000 sat
4) 78,000 sat
5) 99,000 sat
Steem VS Bitcoin Could Blast AnytimeAfter finding the bottom at 8825 satoshi, Steem immediately started to rise breaking above the 200 Moving Average. After the correction and rejection of the 200 MA, STEEM/BTC continued going higher breaking above the descending channel and reaching 57k satoshi high on the 3rd of January.
The corrective wave down followed, where Steem went down exactly to the price where the descending channel was broken and there 23.6% Fibonacci retracement level was rejected. This price action could suggest the continuation of the uptrend sending Steem up to the very strong resistance at 90k satoshi, where it could form a double top together with the high established back in June 2017. Only break and close below the 200 MA could invalidate bullish outlook.
STEEM/BTC - Reversal- Change of Trend on DailyIt's time to buy Steem. Price action on the daily chart has changed the trend from Bearish to Bullish seen by the recent price pattern - Higher high and higher lows.
The previous move swing price made a clean higher and high then retraced from a 382 and held the 50% and previous support/resistane before making another move higher.
The price projection of this swing looking at the 161.8 is very close to the previous ATH of this pair. I am looking at this level to take profit.
A STEEM Idea For Wave 5 - Fib BasedHere's a quick trend based fib assessment for our current STEEM wave count on 1-10-2018. STEEM could continue the climb into wave 5 if BTC remains bullish.
Wave 4 could retrace more and allow for more vertical movement into wave 5. If wave 4 stops here, we could see a shortened wave 5 somewhere in the .618 fib range (.0007 BTC) as shown on the chart.
STEEMBTC - great project, huge potentialI think 50% and 100% targets for STEEM are very realistic.
Right now the price is consolidating and it is a good buy-in .
Increasing sentiment for STEEM puts it into top ten coins based on the public interest according to coingecko.
www.coingecko.com
It is a long term hold.
Good luck!
Steem/BTC - is rally over ?well everything is currently beaten by bitcoin now :).
And steem is one of them . I am buying few steem here for short-term trade because chart 1hr is screaming it is at local bottom now.
eventually alts will recover so while everyone is in panic , I will start accumulating slowly