STEEMUSDTSTEEM ~ 1W
#STEEM So far it continues to maintain this support block. If you still have Conviction on the coin,. This support block would be a very interesting buy for now. at least for a 20%++ increase
Steemusdsignals
STEEM Showing a professional Accumulation phaseHi Everyone;
today we have one of the Interesting coin.. STEEM
My TA showing almost 39 Risk to rewards, but looking to the accumulation phase I expect more than that, let's give it a chance.
Steem | Gartley and about to break resistance for upto 896% moveHi dear friends, hope you are well and welcome to the new trade setup of Steem coin.
The last biggest harmonic move Steem formed back in Mar 2020, which I shared as below:
Now on a monthly time frame, Steem has again formed another big harmonic move, and this time it is a bullish Gartley:
On a daily time frame, Steem is also about to break down trendline resistance as well.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
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.
STEEM/BTC (Bounce play: up to 55% swing up?)STEEM/BTC
STEEM just had a big false breakout reaching over 200% pump, if STEM will repeat this type of scenario,
we could expect minor bounce up over 55% move inside this ascending channel.
The stop-loss is below green trend-line support which is the key area for this short term rally.
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.
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.
DBL bottom STEEMUSD confirmed with BB KC FIBO + VOLUMEParabolic SHORT opportunity presenting itself on $STEEMUSD as evidenced by the DBL bottom/volume/KC/BB/volume surge & otherwise. Targets 1 & 2 below
Perhaps due to the recent rumors/news about Libra getting cold feet? For if LIBRA were to fall apart; that would leave STEEMIT the leading social media decentralized platform on the blockchain, as it has the most user-base & a solid roadmap after their scorched earth clean house -- whaever they did worked as they are rapidly progressing and satisfying their roadmap in stark contrast to the previous devs who literally kept the platform in BETA for half a decade.
So if I had to guess as to what's causing the bullish signal on $STEEMUSD it'd probably be the recent news about LIBRA/VISA backing down, though the technical indicators seem to support a bullish outlook regardless; whatever the reason may be, it's a good time for entry.
When in doubt, zoom out & in doing so it paints a pretty ugly picture for the outlook of $BTCUSD as we are most definitely due for a huge parabolic surge but it's going to get worse before it gets better...
You know the cliche, "things get the darkest before dawn" and in the case of BTCUSD priceaction it does appear that way.
IMHO we're in for another 2-3 selloffs before a retrace/consolidation & reversal.
IN THE MEANTIME: I can definitely see altseason on the horizon with plenty of undersold & undervalued alts leveling out before BTC crosses 10.2k R again.
HENCE, my recommendation would be to stick to short positions until we get out of this bear trap. There's plenty of money to be made -- both in USD & esp. in pairing against BTC (which I would not advise *unless you really know what you're doing* for i do not recommend novices attempt to play around with pairings unless they don't care if they lose their investments) as it took me a lot of trial/error and thousands of $$ lost over 2015-2016 before I could effectively establish a rhythm for pairing other tokens/coins against BTC & turn a profit even in bear markets (which I really honed my skills at during Cryptowinter) though I digress.
TP:1 0.1508
TP2: 0.1588
Stop: 0.1360
Disclaimer:
Not financial advise; please trade responsibly. Always set stop-losses! DON"T FOMO/FUD
-@a1mtarabichi
STEEMUSD Big Buy SignalPattern: Channel Up on 1D.
Signal: Bullish coming off a Higher Low.
Target: 0.56000 (estimated Higher High and Resistance).
