STEEM - MMA50 Broken
Hello all,
Yesterday, I was saying you that we were not breaking the MMA50 and that it was a good sign. it happened unfortunately during the night :
What does it mean?
It means that at short term (hourly chart), the up trending is finished and that we are in neutral zone.
We will need to wait now that we have new signals (UP or DOWN) to determine the direction that the STEEM will take.
Don't forget that this indicator is for the hourly chart (short term), the long term chart (daily) is still very bullish for the STEEM...
I wish you massive profits and a happy New Year,
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.
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EMA is truly useful study but not so effective in this situation. EMA might give you a sense of long movements 50, 100 and finally 200 but for shortterm battles that are crucial for creating those long EMA movements you must expand your arsenal and to add STEEM/BTC market analysis. Do you really think that STEEM/USD has any value to BTC holders who are deciding to move their f.e. youtube action on STEEM?
We are definitely not in a neutral zone. STEEM is determining its value well above $5 USD range is stable against BTC while BTC is neutral.
MMA is worthless as an indicator, i have proved that more than 20 years ago in a major university research, try something else :-)
Do you have a suggestion?
If you want good profits, you should use techniques that give signals at top or bottom, not after reversal already manifests, support lines are better, follow @haejin, he is first class in this kind of reasoning.
Not exactly the suggestion I was looking for, after this past month I would not follow anyone that took part in the flag wars, I would rather have a nice platform called steem, than burn it to the ground over ego and profits... that's just me though.
:-) i understand but what to do if you're attacked? It was just defense from his part. Anyway, let's stick to the topic. He is topclass if you want to get good at this, you can read what he says without following him :-)
I am sure that is one of the reasons he has so many followers! Anyway it seems a truce was called earlier today, and if that isn't good news I don't know what is.
Simply amazing. Great stuff
So you believe we are in a holding pattern and could go either way? Lets hope for a clear flag one way or the other.
I invest for the long term - so the only thing I am interested in is the long term perspective!
I see. well thanks for the info cryptopassion!
@cryptopassion I hope we can see another takeup eventually but with all these high prices we are seeing a few big accounts powering down this is one of them - it wouldn't surprise me if we go back to last weeks prices if we have alot of powering down over the next few months, although if that happens cheap Steem for all! Don't want to seem negative here, I am just going off what I am seeing. Thanks for the analysis.
Steem is different than other cryptos. I would not worry about MMA50.
The important index to watch is how much power down/up we have.
If people, power up, and stop selling their steem, its price will go higher
it sounds that you are new with moving averages
Nice