Hi there,
Steem/BTC witnessed a good increase in price in the last hours.
But Steem is now struggling around 58k. It may be a really good time to sell a portion of our steem holdings.
Indeed several factors tends to indicate we may have temporarly got to the top :
- We have hit the previous Top that occured in the beggining of this year (Fib resistance 1) at 58k
- Using my custom "Boundaries" indicator we have reach the first level of resistance from this indicator (orange line) : usually most coins don't pass this orange line except if there is a really strong rally (that's why you only sell a portion of your holding not all in case you break this one)
- On my multitool indicator, the red curve that sum up the score from multi time frame indicator, has touched the sell level.
- The MACD is also above the Sell Level and crossed.
- The godmode indicator is also above the sell level and crossed.
Steem/BTC witnessed a good increase in price in the last hours.
But Steem is now struggling around 58k. It may be a really good time to sell a portion of our steem holdings.
Indeed several factors tends to indicate we may have temporarly got to the top :
- We have hit the previous Top that occured in the beggining of this year (Fib resistance 1) at 58k
- Using my custom "Boundaries" indicator we have reach the first level of resistance from this indicator (orange line) : usually most coins don't pass this orange line except if there is a really strong rally (that's why you only sell a portion of your holding not all in case you break this one)
- On my multitool indicator, the red curve that sum up the score from multi time frame indicator, has touched the sell level.
- The MACD is also above the Sell Level and crossed.
- The godmode indicator is also above the sell level and crossed.
Comment:
Here are some updates on steem.
In the last day, BTC broke its triangle upward and therefore as expected Steem has gone lower.
Steem is now inside a descending channel represented in two parallel black lines.
Currently, Steem is on an intermediate fib level 48.8k.
It's not yet the time to re-enter into steem, I will update when I find a good opportunity.
In the last day, BTC broke its triangle upward and therefore as expected Steem has gone lower.
Steem is now inside a descending channel represented in two parallel black lines.
Currently, Steem is on an intermediate fib level 48.8k.
It's not yet the time to re-enter into steem, I will update when I find a good opportunity.
The indicators start to cool off a little. Next movement will surely depend on what happen with BTCUSD.
Will keep you updated