STEEM/BTC-Long setupSteem is a cryptocurrency token that has utility on the Steemit platform – an incentivized blockchain-based social media platform founded by Dan Larimer, who is also the founder of BitShares.
STEEM will be launching their MainNet on 24th March'2019 after the TestNet was released in the month of January'2019.
It might affect steem price analysis so let's analyze the Daily Timeframe chart of the pair to know levels to buy for upside potential and one of the best performing coins now.
STEEM/BTC pair has already seen a surge of 100%+ in December month and 50%+ in the month of February 2019.
There is a more potential upside for the pair with the upcoming catalyst (MainNet).
If the Pair breaks the preliminary resistance around 0.0001168-0.0001260 Satoshi, then one buy at these levels after the retest.
If the resistance is not broken then we can see the price reaching support level 0.0000900-0.0000835 satoshi where interested buyers can look for these levels to enter for safe entry.
If the 0.0000900-0.0000835 satoshi level is not respected then one can look for buying around 0.0000645-0.0000667 satoshi level with a tight stop-loss. Sellers can look for two potential resistance zone around 0.0001800-0.0002000 satoshi to book profits.
Also, it has been trading above the 200D-SMAs and Ichimoku cloud, which is slightly bullish.
Caution: If the last line of support 0.0000645-0.0000667 satoshi level is broken then one should not hold the coin as it would be strongly bearish for the asset.
