Today, I want to share with you my trading idea/view for STEEM! So, let's go straight to the action because the Spring is here!
Weekly chart view:
During a falling wedge , the price moved above the upper trendline. This is a breakout and completes the pattern. There, is also a double bottom that can be spotted on a weekly chart! Consider taking a long trade.
You can use the fib. levels for entry and exit points!
Daily chart: 2017 VS 2019 movement!
On the left side, you can see:
- the price went down from 23600 to 5800-7800 Satoshi, where the support hold up very nice, and, the price bounced back to 33000 Satoshi.
On the right side, you can see:
- the same movement: the price went down again, from 23600 to 5800-7800 Satoshi , ( the same strong support!!!)
The question remain: When the price will bounce back up?
Here is the answer: This movement up is connected to a beautiful season which is : THE SPRING! You can see on the left side (2017) the price moved up in a particular period of time: MARCH
On the right side, you can see that the price already started to move up, and, now we are in the accumulation zone! There is one move left to go which is: to 33000 Satoshi or even higher!! There is more:
Coming events:
As you might know, on 24 March ( coincidence???) 2019 Steem Smart Media Tokens ( SMT ) MainNet will be released.
Below, you can see the introduction of Smart Media Tokens explanation on this video by @Ned Scott the Steemit CEO. Enjoy the video!
If you want to accumulate more Steem this is a great opportunity to do it! ( At least this is what I am going to do!) I hope you will enjoy my idea, as much as I do!
Disclaimer : My posts are never financial/invest advice! For a favorable outcome, make your own research! Never invest more than what you can afford to lose. Don't forget, it's all about positive thinking and patience!
Remember, you should always use a stop loss! I wish you all a great Weekend!