STEEM - Support line is holding the drop
Hello all,
Yesterday, I was showing you that long time support line in yellow :
Here is the current chart :
So as expected our support line in yellow holded the drop and helped us to make a bounce. However the bounce stopped at the resistance line in Blue and we are now dropping again in direction of the support line.
I really think that the BTC will give us the direction that the STEEM will take. If we break the support line on the BTC, I think we will break it here also... It is sad to be influenced s much by the Bitcoin, but we cannot ignore it if we want make good analysis on alt coins.
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.
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Ugh, as much as the support line is currently holding, if bitcoin drops, the support line will most definitely break as well. Fuck bitcoin.
Steem broke my line in the sand at $2.33, we may go down to as low as $1.00, but agree Bitcoin will not only determine Steem's direction but the whole space.
I’m thinking $0.90-$1.50 range. If it holds these low levels for a few months I’ll be buying the whole time and will acquire more Steem Power than I thought was originally possible when I first started to invest in SP.
Good strategy because we are low on the curve, meaning price is inexpensive and this is what the big boys do, they buy low and sell high. If you are in it long term HODL, if you are just trading price you should have a target and stop less in mind.
In this moments I feel like the cat!!
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Hello @cryptopassion, I really love your updates but someone ask me why steem value is going down. What shld be my response
Very good topic friend greetings from venezuela I follow and vote
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very interesting, hope the up line starts soon, but if it doesn't i'm not worried as maybe this is the best time to buy as there is bargains out there