Steem has entered a triangle pattern, with an inset resistance line recently forming on the 77 SMA (White). Interactions with Fibonacci levels have been highlighted. Entry point should be on the break of both resistance lines, stop loss below the support, and a target 30% up at the predicted intersection with the 235 SMA (purple)
Note
The Bittrex chart has a bit more consistency with the triangle pattern and would suggest a buy in at the break above 0.00017. A break of the 77SMA (white) above 0.000175 would confirm on both Poloniex and Bittrex. A partial buy in at both of these prices could be a good strategy.Order cancelled
After a break of the inner resistance and a close approach of the outer, BTC ruined the fun but running, causing STEEM to break support. STEEM may still be a good trade, but this chart and these entry points are no longer accurate.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.