Hello all,
Yesterday, I was showing that prediction :
[IMAGE: https://steemitimages.com/DQmdBJmgFudxSALkdgP9H2ksozWkqaUeH8sFoo1CdxpNgwK/STEEMUSD.jpg]
Here is the current chart :
[IMAGE: https://steemitimages.com/DQmcLBLz9F1Ef499Jgwanw3Mvu8gdzCJgVP2uBB2rUF2GXF/STEEMUSD.jpg]
As you can see, we are exactly on the support line and we are hesitating to take a direction.
As I explained you yesterday, we have the 2 following scenarios :
- If we are able to break it, we will use it to start again a UP.
- If that resistance line is enough strong to block us, it will give new lows to Steem at short term.
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.
[IMAGE: https://steemitimages.com/DQmYmhKnCFVHLXSxr9YD54nT8R2GvdH7iKeFXpSKYy6kV3B/BARRE%20STEEMIT.jpg]
[IMAGE: https://steemitimages.com/DQmPUVQGwLT9h8TUYnGrejuq8k1E2dXn3NCCGxAjDFGEGUp/CryptoPassion-Banni%C3%A8re.jpg]
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Interesting graph! I’m new around here, but do you have one for years past? Are there any interesting trends you’ve seen in that time? It looks like in the past few weeks the price piqued during christmas time. Do you have any ideas why? Could it be time off plus the new crypto buzz brought some extra attention to Steemit that has died off a little since?
I’m going to follow to see if you have more cool info like this.
Even if we can’t break the line Steem has a TON of long term potential. We’ve got multiple working products, a solid blockchain with fast transaction times, and potential to become a full on blockchain based tech company. I say $100 Steem by 2019!
EDIT/NOTE: In crypto I consider a year long term
Technical analysis should be taken with a grain of salt given our current market conditions. The uncertainty surrounding South Korea's regulations for investors and exchanges is likely what caused the price to tumble below the support line and will likely determine the movement of STEEM and SBD in the short-term. However, I'm still happy to see some recovery, and I believe that the Steem platform will continue to have positive momentum in the future due to it being a pioneer of integrating cryptocurrencies with social media as well as its rapidly increasing adoption rate.
According to the 4 hour chart, it's in a very nice channel waiting for a breakout either way. Right now its nice to just sit on the sidelines and see whether it'll break the supply zone or the demand zone. Did a full analysis here:
https://steemit.com/steemiteducation/@r3negadetrader/steem-trading-analysis-1-12-18-stagnant-price-stuck-in-a-channel-bullish-or-bearish
[IMAGE: https://steemitimages.com/DQmPMHwN19ekUZYFgZ66TEAxFjAKifiG9b1bQk5BmreE7rw/image.png]
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