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This Extreme Bearish Trend Helped STEEM In Completing Final LegA strong resistance level the main cause of drop: Hi folks hope you are well and welcome to the new update on Steem with US dollar pair. To understand the current downtrend we need to go back in November 2019. When the price action was move sideways and took a powerful bullish divergence in January 2020 and broke out the 100 simple moving average resistance. After breaking out the 100 SMA the price line of Steem used this resistance as support and took another very powerful bullish divergence and touched the 200 simple moving average resistance. At this level the price action has hit 4 times but failed to break out the 200 simple moving average resistance. And price action again dropped at 100 simple moving average on 26 Feb and again used this moving average as support to make another attempt to break out the 200 SMA. But this time the price action could not even able to move closer to 200 simple moving average resistance and dropped down again. And currently the Steem is likely to break down the previous support of 100 simple moving averages well. Formation of harmonic pattern: During this move on daily chart the price action of Steem formed a bullish pattern. A on 27th Feb 2020 I posted an article where I revealed that the Steem has formed a bullish BAT pattern on one day chart. The formation of this pattern was started on 10th of January 2020 and the price action entered in the potential reversal zone on 27th Feb 2020 this was the day when I posted the article. We also had a very strong support of 200 simple moving average in the PRZ level of this bullish pattern that made this pattern more stronger. Because the 200 simple moving average on one day chart is always considered a strong support and it can also provide sufficient push to priceline for the bullish divergence. And as per BAT pattern and Fibonacci sequence method the price action was suppose to take the bullish divergence from this potential reversal zone and enter in the Fibonacci projection area of A to D leg of this bullish BAT pattern between 0.382 to 0.786 level. On the very next day 28th Feb 2020 the price action moved up and produced more than 28% profit and it was expected that if the price action will cross up the 0.786 Fibonacci projection level then it can move more up using the 0.786 level as support and Steem will finally breakout the 200 simple moving average resistance of 2 day chart as well. Even though the trade plan I posted in article executed successfully. But unfortunately the price action dropped down again after visiting the Fibonacci projection area of A to D leg of bullish BAT pattern. A head and should pattern can lead the priceline more down: If we see the broader view then it can be clearly examined that Head and Shoulder pattern is completely formed that is reflected upto 4 days chart. At this time it can be clearly seen that the price line of steam has hit the spike even beyond the neckline of Head and Shoulder pattern At this time it can also be observed that a long red colored strong bearish candlestick is putting pressure on the neckline of the Head & Shoulder pattern to break down the neckline as well. And due to this pressure the price action can easily break down the 100 simple moving average support on 2 day chart. Bullish Shark pattern a bullish reversal signal is appeared: Now I am taking you to the more broader view of Steem’s price action and that is the price action has completed the formation of another harmonic pattern on weekly chart. And this time the pattern is big bullish Shark. Now let's have a look how perfect this is pattern is formed. The initial leg was started by the candlestick which was opened on 25th November 2019 and this like has been completed on the candlestick which was opened on 25 Nov 2019 and completed by the candle stick of 13 January 2020. Then the price action dropped upto 0.618 Fibonacci level. From this point the priceline of Steem was supposed to be projected between 1.13 to 1.618 Fibonacci level this was the projection of A to B leg. And we can see that the price action even projected little bit more than that level. Therefore at this moment I have ignored some extra spike cause all other legs are formed as per requirement of bullish Shark pattern. The final leg was supposed to be retraced between 0.886 upto 1.13 Fibonacci level. And it can be easily seen that the price action has retraced up to this level. At this time the price action is moving in the potential reversal zone of this big bullish shark pattern. The potential reversal zone and the Fibonacci projection area ranges: Now from this potential reversal zone the price action should take a bullish divergence to enter in the Fibonacci projection area of C to D leg. And as per bullish Shark pattern the potential reversal zone starts from $ 0.1128 and ends at $ 0.0803 and the Fibonacci projection areas starts from $ 0.1573 and ends at $ 0.2390. So there is an expected big bullish move upto 197%. But this potential reversal zone should be as a stop loss as well because once the PRZ level will be broken down then Steem can turn more bearish.
Long
by moon333
3
STEEMUSDT formed bullish BAT | Upto 96% bullish move expectedHi friends hope you are will, here I have found another profit potential trading idea for you and this time I have found a harmonic move by Steem. The Priceline of Steem has formed bullish BAT pattern and entered in potential reversal zone and ready for bullish reversal soon. Let’s have a look on the Steem’s move: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move. We also have a 200 simple moving average in PRZ level that can be a strong support to push the price action up to 96%. Buying And Sell Targets: The buying and sell targets according to harmonic BAT pattern should be: Buy between: $0.1593 to $0.1400 Sell between: $0.2053 to $0.2745 Stop Loss: The potential reversal zone area which is up to $0.14 can be used as stop loss in case of complete candle stick closes below this level.
Long
by moon333
STEEMUSDT forming bullish Shark | Upto 30% move aheadPriceline of World's 78th ranked cryptocurrency out of more than 2300 cryptocurrencies Steem is forming bullish Shark pattern and soon it will be entered in potential reversal zone and will be ready for bullish reversal soon. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Let’s have a look on the dimensions of Steem price action's moves: After inertial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg is suppose to be retraced between 0.886 to 1.13 Fibonacci for a perfect bullish Shark and then the price action will be entered in potential reversal zone of this bullish Shark pattern, then we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $0.1171 to $0.1087 Sell between: $0.1247 to $0.1419 So this short trade has potential to produce upto 30% bullish move. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
Long
by moon333
Steem Great Buying Opportunity - Don't Miss This One - HUGE ROI Steem Great Buying Opportunity - Don't Miss This One Steem Crypto Forecast - Technical Analysis Based on AB=CD pattern , Time Ratio & Gann Analysis, It's a potential long position which will give a huge ROI In a lower time-frame (4hrs) this long position has also been conformed. Target profits are mentioned in the chart. Adjust your Stop Loss according to your lot size, account equity ,strategy & money management. ***If you want to get in this trade from this point 0.15 you can still make profit till TP1 is reached, however there is a very high probability that price may continue to move down towards my ideal entry point., It is recommended to enter with a smaller lot size if you want to go long right away & manage your stop loss accordingly. Good Luck.! * This is my personal view and analysis on this chart. If you follow this idea please plan your trade according to your lot size and account equity. Don't forget to like , If you like my analysis :)
BINANCE:STEEMUSDLong
by Jaffery
1
50% retracement FULL STEEMUSD (LONG) AHEAD!Elliot Wave indicates that STEEMUSD is on course for a mid-long term entry @ $0.3951 which (if you made said entry now) would be nearly 100% ROI in IMHO ballpark estimate would be a 7-10 day timeframe. i.ytimg.com Incase any of you folks forgot what an Elliot Wave is. STEEMUSD (i'd be here all night and I need to get some sleep; Idk where to start, but I'll just sum up my entire feelings about this platform in one sentence:) This token is dying...esp with the announcement of $LIBRA (which ironically; I wrote a lengthy blog post on STEEM about how whales were bullying content creators and manipulating curation incentive payouts thus ruining the platform and it would be just a matter of time before a Zuckerberg comes along and makes a better version of a social media platform on the blockchain and ousts you guys!) Just like many other projections (the release of Bakkt, the centralization & CLA win for XRP) I am a goddamn wizard whose only gift is seeing shit people don't believe until after I get the bittersweet pleasure of saying I told you so. I'm not gonna bother digging around for that post; I'll post it in the comments tomorrow, its several months old and I'm starting to feel delirious, I haven't slept since Sunday. Lol. So this means: Altseason is coming , and with an entry at $0.20 you could effectively double your ROI/investment with TP short/pivot line at S2 set for $0.3915 USD with my EST. timeframe of 7-10 (maybe longer) days. Please read the disclaimer from my LTC publication -- I reposted on Twitter/Linkdeln and edited so its not written like a dumbass (siri's grammar errors! my bad :) ) but yeah if you're leery about investing in crypto already and especially lower market cap coins; take it from someone whose been around for a while, while STEEM (IMO atleast) will NOT be around in 10 years, it does not mean it will get a quick and painless, it shall die slowly and not quick with a huge big bang like Bitconnect. Let's not forget that Steem was/is the first social media platform on the blockchain; released in 2014...it still has a small but very loyal userbase primarily in Europe/Asia. It has many many many flaws, one in particular -- the fact that its still in Beta (after almost 6 years) is inexcusable. I'm also convinced the mods are in cahoots with the whales to manipulate curation payouts but again no need to get conspiratorial it's almost 3AM and i'm going to bed. Read my disclaimer from my last post on my twitter/linkdeln. TP 1-2 for the more impatient EMA8 swing-traders are also present; though i would HODL out for $0.3915 TP (or atleast 37.5 cents; but IMO stick with my target if you're uncertain as it goes if you're going to take a bold risk on a sinking ship with a treasure trove of gold...you might go down with it but that's only if you get greedy. Set your stop loss at the red horizontal -- and WAIT patiently, in about a week, two tops, you'll double whatever entry you just made. You're welcome. peace & love @a1mTarabichi
POLONIEX:STEEMUSDLong
by a1mtarabichi
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
STEEM possible movementIt had almost 100% retracement. Both weekly Stoch RSI and MACD look good 3d Stoch RSI and MACD are fighting for upward movement; it also tried to break the Ichimoku cloud 1d Have a little Stoch RSI and MACD downoard trend. Broke Ichimoku cloud and currently trading above it. It may retest the cloud 6h Stoch RSI seems to want to reverse. It may need to gain support in Ichimoku cloud or little bit under it 1h has momentum but needs to break the cloud. Fortunately, it is a small cloud Had a retracement to 0.786 fib level but also may still go as low as 0.883, it would also test the cloud This move may go for 1.618 fib This also may be part of a larger move.
by WealthMurphy
STEEMBTC Weekly trend with fibonacci retracements #Bittrex chartSteem looks like its getting close to a bottom, watching for a reversal in the near future as we head near the 200sma on the daily chart. The longterm outlook on steem is bright since steemit is revolutionizing the way people share content. This could easily move back up to previous resistance near the .236 to .382 fibonacci retracement levels. Accumulation and dip buying for the longterm seems like the way to go. My first steemit post :D steemit.com coinmarketcap.com
Long
by AaronX
Steem Swan A close outside the Swan Head is a buy signal, Let's do some artistic stuff while the bots are playing Small Channel inside the Head is our daily channel We had a trial of breakout before BTC took over the market and now we are back in We are in a sweet spot area, the.00070 Mark should hold, If we get there. My suggested trade would be around the next support area or wait for for buy signals through candlestick patterns or indicators which I will definitely highlight once things are more clear. I am a holder Best of luck everyone
Long
by dr.ehabaziz