STEEM - We broke the previous short term low - The break of the long term support line is in progress

in #steem7 years ago

Hello all,

Yesterday, I was showing you that chart, saying you that the support line in blue was doing its job :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

As you can see, the break of the blue line increased the drop and we even broke the long term support line in orange which was holding the moves since mid january.

This line is very important, look how she did well its work the previous weeks :

STEEMUSD2.jpg

If we break it during a very short time, like the 2 previous times, we can use it to start a bounce. However if the break is confirmed during a longer period, this is really not a good news for STEEM. Let's see the coming hours and see if we are able to come back upper of that line.

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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Great analysis as always. Curious to know what your long term prediction is? Here's a fresh analysis I did.

STEEM - Analysis - The Future For STEEM Price ($31) https://steemit.com/steem/@benkalashnikov/steem-analysis-the-future-for-steem-price-usd31

Screen Shot 2018-03-08 at 17.33.31.png

Here we go... Let's see if we can bounce from here like the previous 2 times we've reached these prices.

Price needs to hold $2.33, otherwise we may go down to $1.00.

Expecting a drop to $1.50 personally. Not bothered though I'm just on profits from $1 ;-) Probably buy more under $2 though.

I thought I knew something about this, but after seeing it go up high and down so low I now know I know nothing...

Don't feel bad, price changes due to fundamentals, how much money is flowing into and out of the market, it doesn't 'obey' arbitrary lines drawn on a chart ;-)

Great opportunity to by some bitcoin

good opportunity.
it just blindly followed bitcoin.

it just blindly followed bitcoin.

Present time crypto currency is very low.I hope as soon as it raise.Thanks dear for sharing

Thanks for good information..Great opportunity to by some bitcoin

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