STEEM / BTC accumulation channel exists for 5 months. A huge position is being recruited by a major market player. On the chart we see 3 zones of huge volume . We see long shadows. This means that someone bought in the market the lower sell orders that have accumulated. Then the price was lowered back down so as not to make a false start to growth.
We are now seeing Steem at its bottom, this is the lowest Steem has been since summer (May,June & July 2016).
Short term we will see a retest of the 0.00001094 BTC level, we should break above this level as well as the 50 MA.
From here we will see a run to the 0.0001242 level which has been support for the past few months.
I see consolation coming between these...
A long term wedge looks to break sideways, expect upward trend. First touch will most likely reject the level, sell at that point and buy back lower, second attempt will look to gain that support. After which it will target the next level. If it fails again we could see it return to the established support in the current channels.
Please immediately take into account, this is only my own opinion!
At this site, we see a descending wedge, this is a fairly rare figure - a figure of a fracture of the trend.
We see the dying volume of trades during the formation of the figure, this indicates that the number of players who act in the direction of the previous trend is decreasing. ...
We should now start to see money coming back into altcoins again and I think STEEM is ready to make the next impulse up.
The idea behind STEEMIT is great and I can see the platform becoming more and more popular once it moves out of beta. I personally think that it will become a legitimate threat to Facebook and Twitter and will spearhead the next generation in...
I love the Steemit Community and for this reason I believe Steemit and Steem Coin will revolutionize social media content marketing and lifestyle design.
I believe Steemit will be competing with the giants in a few years.
This new fork in BTC being launched from AUG 1 2017 will cause a lot of volatility so this may help my trading idea...
To establish a pattern you require a minimum of 3 data points. Unfortunately, this TA does not meet that criteria so is nothing more than optimistic speculation.
However, having a look at the graph I will let you make up your own mind. A similar pattern has occurred as the price has met the overall resistance (bottom of pitchfork) at which point there is a slight...