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STEEMBTC

Is there any incoming breakout on STEEM?I have been observing STEEM/BTC for a few days, the candles shows interesting findings. First of all, sorry for the messy chart. Horizontal cyan lines are actually support/resistance levels which I draw one by one in 1hr and 4hr timeframe. I find it comfortable to know where the candles might halt or retrace in the future down to whichever price levels I must anticipate, whether it is minor or major support/resistance line. Drawing resistance/support lines also make me avoid overfitting the data and may lead to misleading projection. After reversing its trend to bull rally in early April, STEEM continues making its price spike several times due to of course speculative actions. Bullish rally can be identified by yellow diagonal lines spanning from lower left to upper right. Line A shows the lower low trend and line B shows upper low trend. Distance between A and B means some kind of safe zone where candles that retrace into it are considered still on the trend, but if it breaks beyond line A, then I will start to worry if bull run is over. Another line which I draw is line C, D and E which are alternating diagonal lines to show the flag pattern. Right after the flag pattern ends, candles were breaking upwards just besides line C and D. Now, the interesting part is that if you notice the price of Spike 1, 2 and 3, there is a distance between them that upholds almost equally in both between spike 1 and 2 and between spike 2 and 3. By seeing multiple breakouts in multiple coins in April, I dont know if there will be another breakout in the future for STEEM, but I would say if there is one, the spike will hit resistance level at around 4330-5950 satoshi. Another thing to consider is that since I use short timeframe for this analysis (4hr), it is worth to mention about short term retractement signal which may have been found, which is the pendants as shown in green triangles. Pendants indicating approaching breakouts tend to show volume increases in the beginning and gradually decays until the tip. If you see the MFI, I am afraid that the volume is really cooling down right now as the books explained. I am no foreseer, but I would say there might be a breakout after the pendant ends. Conditions of the most recent candle (4hr timeframe): 1) Touching the support level (cyan horizontal line), well...one of them 2) Is around the base of the pendant (I would expect to retract upward at any moment) 3) Approaching the tip of the pendant 4) MFI is low (low volume) 5) RSX (RSI modified by Lazybear) shows buy signal 6) Slow EMA is about to cross faster EMA (shown below). If all slow EMA has crossed faster EMA, this would normally mean a death cross, but similar crossing action is seen just right before the breakout, so..who knows? Hope for the best!
Long
by istifajar.he
Steem Getting Ready for a Breakout.Hey, I am back with another Trade Idea , this time looking At Steem. Steem is a Coin at rank 26, that is being used to buy Steem Power on steemit. That means Steem Coin has a real usage , which just adds to Value of this Coin. Steem power is provided by the number of coins not by the value of coin, which is good for the price. Okay, that was short Fundamental, now lets take a look at Chart . On the Chart, you can see that rounding bottom pattern is forming. Steem can have trouble breaking 46,000 sat which would lead to Cup and Handle breakout Pattern. Green Line - Support, Red - Ressistance. Taking look at Indicators . MACD giving buy signal, with few buyers coming not much sellers can be seen. RSI has found its support and ressistance which is great! Currently in Extra bullish mode. Volume is Really Low compared to Februar Volume, which can lead to huge breakout. I guess thats about it, I like to keep it Simple. Hope I made your view on whats going on with Steem somehow clearer. If you like this TA let me know in the comments, Likes are aprreciated, Thanks ! If this gets a little bit of attention, I will update!
by TiborVrbovsky
5
STEEM: NEW DEVELOPMENTS = 42.20% PROFIT!!!Our "Crypto Bottom" Trade Indicator has correctly identified a buy in point on the 25th of April 2018. Using this buy in point and selling at today's price, you would have expected to net 42.20% PROFIT!!! The increase in price may also be explained by positive developments including: January 1-30: Steemit announces partnership with Datawallet allows creators on the Steemit platform to monetise their content. February 2: STEEM is listed on Binance. February 18 : Steem AppBase release candidate is released. April 10: Positive Article was released by Businessweek which stated that Facebook and Youtube were losing creators to blockchain powered social networks like Steemit and Dtube. Steemit has become an open competitor to Facebook a ($462.38 Billion company). This has article has provided mainstream exposure to Steemit. April 26: Positive Article from Forbes which covers the rise of blockchain powered social networks like Steemit. This has article has provided mainstream exposure to Steemit. (NEW) April 28: STEEM is released for trading on Huobi. This has led to substantial spike in volume. An increase is trading volume is driven by Korean Exchange Upbit accounting for 65.79% (up from 59.52% a couple of day earlier) of all exchange volume . Furthermore, positive hype around Steemit as a possible competitor to Facebook (in light of privacy breaches) is likely to have triggered a surge in price for STEEM.
by CryptoTradeSignals
STEEMBTC - Appears to be on Wave C of corrective phase.Steem BTC had a heck of a run from 0.0002 on April 1st, peaking around 0.000497 April 25th. Glad I had the good fortune to ride most of wave 5 to pocket a 30% return. But now it seems to be in a corrective phase. Evidence for it's corrective phase can be seen on the 1 Hour chart (less so 4 hour) as the "A wave" correction cut back into the Wave 3 height. Which had an incredible spike. Wave 5 hit roughly the 0.786 line from the peak of Wave 3, and then bounced off pretty hard and has been falling since then. If the Wave A bottom is in (I think so) then using fib tools projects a Wave C landing spot around 0.00038 (at least) before it's finished correcting. Could easily drop to 0.00034 or even lower. Now it's possible that waves ABC are already in (look at 15 min chart to see a questionable ABC pattern on the way down) to form a zig-zag, but it also seems clear from the slowly ascending pattern forming right now that it's not your typical impulse wave. So I'm guessing that IF the ABC zig zag is in, we're having a double ABC in the form of a zig zag and then some kind of ascending flat following it. Give then the 5 wave impulse up took 3 weeks to form, it seems likely that a corrective pattern could take as long as 2 weeks to play out. This one looks super juicy though, as it's 1st "Major" impulse wave up increase it's value by nearly 150%, so the next impulse wave up should be quite exciting. I'm of the opinion however it needs at least a few days to cool off before it makes another major push up. Could be wrong though!
Short
by RobinG
STEEM: BULL RUN LESS THAN 24 HOURS = 22.90% PROFIT!!!Our "Crypto Scalper" Trade Signal has correctly identified a buy in point on the 25th of April 2018. Using this buy in point and selling at today's price, you would have expected to net 22.90% PROFIT!!! IN LESS THAN 24 HOURS!!! The increase in price may also be explained by positive developments including: February 2: STEEM is listed on Binance. February 18 : Steem AppBase release candidate is released. April 10: Positive Article was released by Businessweek which stated that Facebook was losing creators to blockchain powered social networks like Steemit. This has article has provided mainstream exposure to Steemit. April 26 : Positive Article from Forbes which covers the rise of blockchain powered social networks like Steemit. This has article has provided mainstream exposure to Steemit. An increase is trading volume is driven by Korean Exchange Upbit accounting for 59.52% of all exchange volume. Furthermore, positive hype around Steemit as a possible competitor to Facebook (in light of privacy breaches) is likely to have triggered a surge in price for STEEM.
by CryptoTradeSignals
2
STEEM vs BTC - STEEM Runnning out of Steam? Ok, lets have a quick look at STEEM vs Bitcoin on the daily chart. Back on the 11th of April we finally broke out of the long term down trend channel! The EMA 12 crossed over the EMA 26 in a bullish reversal fashion around the same time, and since then we have formed a smaller uptrend channel which we are currently trading within. Over the last few days we have tested how much support the EMA 12 would provide us. Although we did pierce through it on the 22nd and 23rd though it has since held, albeit support is only just holding currently. As you can see we are also currently testing the resistance of the 23.6% Fib which has thus far provided some tough resistance. So it’s possible that we will break out to the down side of the smaller dotted uptrend channel, which could result in a move further downwards to perhaps test the support of 23.6% fib level. (Note: there is also the possibility of a small descending triangle forming which is not completed so I have not added it in, though it is on my mind. The next few days will give us confirmation). In addition it's worth mentioning there is very low volume currently, so unless volume builds and quick, then we are unlikely to break through the 23.6% and continue the uptrend. The MACD is sitting fairly neutral, with (thought there is not much momentum so this could change quickly!), and Aroon Up is started to trend downwards – both suggesting indecisiveness. At time of writing we have a falling three methods candlestick pattern emerging on the half hour chart, hinting at the possibility of a break to the downside of the uptrend channel, though this is only an emerging pattern and has not actually completed yet. In terms of trading I am waiting to see whether the uptrend channel holds. Provided it does hold and we can break through the 38.2% fib (we need to see an increase in volume to get us there), there is not a lot of resistance until the 61.8% fib. On confirmation of breakout is where I will be executing my buy order, with a sell just short of the 61.8% fib. If the channel doesn’t hold, then I can see a drop to re-test the 23.6% fib which would be an excellent buy zone. For now we wait and within the next 2-3 days we will have a clearer picture of how this plays out and whether I go long or short in the short term. Cheers!
by Corrupt_Economy
STEEM, PROFIT OPPORTUNITY (SHORT TERM-36 %)!STEEM is on a breakout, possible profit if to follow the upward trend.The coin just finished wave 4 and is looking to get back on the upward trend, wave 5 is expected to come shortly, target for wave 5 is 0.0005 BTC. Other indicators which tell us to buy now is: -Stoch RSI shows oversold and is looking to go back up again -MACD shows close STEEM has proved itself before when the market was on a bull run, same story is trying to take place. However in my opinion wave 5, consists of 5 smaller waves which are shown using scattered lines. Buy-in price: 0.00033-0.00038 BTC Targets: 1. 0.0005 BTC 2.0.0006 BTC STOP-LOSS:0.00031
by farhadjafarov7