On the 19th July a Support began to form and STEEM Market began to move in an Upward Trend/Momentum from 20th July.
As a result of that, it created a Strong Support line on $1.15 Which STEEM did pass a couple of times and tested, but was rejected.
☑ We now see STEEM move for the last 2 days in Consolidation figuring out and testing current Support and Resistance Lines.
☑ We can see that the previous Down Trend got broken and is now moving above the trend line but still under the Resistance Line. This means we still are moving in Consolidation for now, but this could end very soon in a possible Uptrend.
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tnx for post
with pleasure :)
Great post bro
Thank you @andyx :)
Thanks, useful post, still waiting for that "perfect dip point" to acquire more steem. Thanks for sharing :)
Yeah me too @bitfairy :D I'm sure it will come around soon ;) You're welcome!
thanks for the information, I'm looking for days now to buy what should be 'my biggest stake in steem so far' so I am really waiting for the good moment. you thinks things could drop some more due to the btc situation? anyway it's cheap as fuck for at the moment, and I will not feel bad for buying on these levels! keep up the good work, and will follow you for more analysis in the future! grtz
@rene1989 Yes things could definitely drop down even further. From what I see just now there is a possible window that when Bitcoin Reaches $2700 before August 1 that it could drop again all the way to $2200 for a bit and I would assume STEEM would then drop around $0.90. So we will have to wait and see what the market decides to do. Either way, I would keep my eye on the market for the next 6 days I think the market could plunge into an absolute bloodbath
I'm also gonna do an Analysis soon on the price for Next Year so this could give you an idea on what to expect, but yes STEEM is cheap at this time when compared to others and also including the potential that your STEEM Power basically Doubles or Triples depending on the market :) Always Good Investment!
Thank you for following! Looking forward providing more content for my awesome followers :)
Thankyou for your analysis.
The Altcoin world is so dependent on Bitcoin that every analysis is worthless . In my opinion Technical analysis only works if there is peace in the markets.
Nevertheless I hope every cryptocurrency go to the moon giving all stakeholders a great life :).
That's true finally bitcoin give the trend for all others..
That is correct! to an extent of course volume of STEEM itself has a part in it as well.
@maddycurrupt I always check Bitcoin before making my STEEM analysis because that is important to take into account yes ;)
And yes crypto currencies will go to the moon that's for sure.
Especially in the next 8 years from now.
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