STEEM Breakout Imminent?
A few days ago I posted the 3 days average chart of STEEM, with a trendline on top of the highs. Feel free to have a look at the full article, because it also has some historic references to the price of STEEM for the last year (spoiler: it grew up ten times!).
Since I posted that article, this happened:
In other words, the STEEM price broke up and pierced that trendline. Of course, it's still too early to tell if the breakout will still stand. Conditions are still very fragile after the bear market we've experienced for the last 2-3 months. I think it will be reasonable to wait at least 3-4 more candles to confirm the breakout of the trendline (9-12 days), but the fact that we do have a long, solid green candle crossing that line is very important to me.
There is still a lot cooking on the back, from SMT and Hivemind, to STEEM listing on Huobi Pro, so things are reasonably bullish, but in crypto, everything is possible: you can be on top of the mountain one day and then, the next day struggling in the swamp of red candles.
What I'm trying to say is that the next two weeks will be very important, from an economical point of view, for this project. If we'll get a positive response from the market, we can really expect a huge jump (and by huge I mean pushing STEEM on top 10 cryptocurrencies and, believe me, I made my homework and I know what it takes to be there).
All in all, that green candle piercing up was way too beautiful not to be saved for future reference.
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Very true... Things look very bullish for Steem now....I would'nt be surprised if we see sudden price rise upto $6....
My target price is 7,5$ in one month, will it be correct? I wait a... YES!
Thank you very for your analysis.
$3 dollars already seems surreal to me.
It feels like last week when Steem was just at $0.90
I hope you loaded your bags!
similar goals @malonmar
Fantastic!
There are few scenarios I'm looking at and in one of them STEEM could play in the $8-$11 range. But, as I said, it's still too early to tell. And markets are always right, obviously :)
I believe that price is very possible, it is not a crazy price, steem is the more undervaluated coin of crypto universe.
Power up times are over :) Lets go gambling with BTC and alts.
thank you, we are always grateful for the quality of your articles
HuBoi listing, that's all this is.
Coming next is SMT.
Big fan of your optimism, but I do have a hard time putting much weight on any of these chart / trend analysis posts.
However, I would agree that there is definitely some excitement coming down the line w/ SMT's, Hivemind, and additional listings (more opportunity for trading on such a huge listing, I would imagine, would create lots of attention and opportunity). I definitely appreciate you drawing attention to these upcoming events rather than just pure TA.
I think these are the more important/tangible/quantifiable factors to look at, rather than any form of historical performance. All that TA stuff just looks like people drawing dots and making connections where there might not be anything, and a lot of it is closely tied to BTC action, isn't it?
As crypto market matures, a lot of it would be subject to automated trading and algorithms. As it is right now, it's still a very news-sensitive market and very easy to manipulate (for various reasons). But I do weigh in a certain TA factor to the price movement. Not as much as it is in FOREX or stocks, but a certain part of the trends can be sketched with TA.
I'm not saying TA is the answer, I'm saying TA can successfully supplement other indicators (like news, team development information, etc).
I've definitely seen the 'pump and dump' manipulation happen a few times now (I'm pretty new to the scene), so I definitely believe that things are very news sensitive.
Good clarification -- and I think the term supplement is something that more people should pay attention to -- so thanks for that. There's a lot of TA charts on here that don't have anything attached with them. It's nice to see someone that has done their homework.
Speaking of homework -- I suppose I should learn a little bit about the theory behind TA before I dismiss it too much, because quite a few people do claim that it has validity.
I'm feeling good we are back up around $4... that's encouraging
peace
All the way to the Moon!
But for the moment it will be great if soon will reach $10 and it will stay there.
Will see what the market will say!
I think everything is right on the brink right now it seems to be holding steady and just waiting for a major break out.
Lets see but its looking promising! I can see the price doubling in the next few months.
But as you said who knows in the world of crypto - we could wake up tommorow in crisis 🤔