Sounds awesome and horrific in the same time eh..
just looking into steem/btc chart moving closer in the edge of descending triangle.
interesting what will happen..
from indicators seems oversold in daily RSI and stochastic RSI
and bullish divergence is sighted within MACD and Price action...
awesome.. but keep in mind this asset didnt have big liquidity as...
Sounds awesome and horrific in the same time eh..
just looking into steem/btc chart moving closer in the edge of descending triangle.
interesting what will happen..
from indicators seems oversold in daily RSI and stochastic RSI
and bullish divergence is sighted within MACD and Price action...
awesome.. but keep in mind this asset didnt have big liquidity as...
With the breakout of this little accumulation given by the strength shown by the 20 and 100-day-moving averages, so we have a strong bullish movement, with 3 possibilities of exit targets, as shown in the chart above.
Technical analysis:
. Steem/Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.
Trading suggestion:
. There is a...
This is a longer term trade assuming BTC stays bullish
As you can see STEEM follows BTC very closely. That blue area is the BTC chart.
Accumulate STEEM between 2515 - 2200
Stoploss 2052
Short term SnR trade for STEEM with 3.10% gain on capital deployed.
One can go for trade even with no stop loss cause it will give one profitable exit for sure.
STEEM has had a great rally this past week, with BTC rallying, Its time for the alts to consolidate and bottom out before the new alt season. STEEM is expected to fall back to the 33-35k sats support region before its next rally.
