STEEMUSD trade ideas
Steem Finally Up?Steem has been corrected down since it reached $8.57 high. Price went down as low as $2.2 where it found the support, confirmed the 227.2% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout.
After rejecting the support price went up and broke above the downtrend trendline, went back and rejected it. At the moment it looks like the price is likely to continue rising although it remains unclear whether it is a long or a short time trend.
The first resistance is sen at $7.7, confirmed by two Fibonacci retracement levels, 88.6$ and 261.8% applied to the corrective wave after breaking the downtrend trendline.
PICKING UP STEEM! $17+ TARGET SOON! $35 THIS YEAR!
A quick look at STEEM shows me we are in a longer extended triangle correction with A-B-C-D-E Elliot touch points. Now, sometimes the (D) touchpoint also becomes the breakout. I am unsure of the percentage here and am hoping a comment warrior can help me out but for sake of the illustration, I'd say that maybe 60-70% of the time we will travel down to point (E), hit our touchpoint and then break up. That leaves us with 30% of the time that we don't. Point being, we are close to a breakout of our triangle here.
Now, because of the extended nature of this particular correction (RED TRIANGLE), I have cloned our purple fractal and multiplied it by two (2), an estimated length of the triangle. I have built the fractals on top of each other from an assumed touch point of (E) to reach our first shorter term target of $17, a 400%+ profit margin from our current price.
Longer term I see STEEM taking off like a rocket. I do believe that it is well within reason that STEEM reaches $35 by year end (and I think this $35 target would only be the end of wave #3 - meaning we could go higher). This would constitute a nearly %800+ profit.
If you want to place your bets on an alt coin that will be around for a while AS WELL AS one that will net huge gains, I do believe STEEM is the coin to be in.
Veering away from technical analysis here, DTUBE (a decentralized video platform built on the STEEM technology) has recently picked up many major YouTuber's and this transition is about to avalanche with the Google Ad issues that we have been seeing in news stories recently. This will only serve to propel STEEM into newer territory and token highs.
Brace yourselves, STEEM IS PICKING UP. The STEEM propelled rocket will be launching soon.
Happy trading friends.
STEEM IS MAKING MOVES - DOUBLE UP ON PRICE BY MARCH 7-15 2018
Color Chart
Short Term Channel: Cyan (solid line)
Long Term Channel: Blue (dashed line)
Fib Trend Line: Magenta (dashed line)
EMA55: Yellow (solid line)
Short Term Resistance Line: Green (dotted line)
Long Term Resistance Line: Gold (dotted line)
Lowest Point of Correction: 78.6% FIBONACCI RETRACEMENT = $2.63
Targets
Sell Target #1: $6.72
Sell Target #2: $10.00
Indicators
RSI: Uptrend @ 50.03
EMA55: $4.23
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
About STEEM
Steem is a blockchain database that supports community building and social interaction
with cryptocurrency rewards. Steem combines concepts from social media with lessons
learned from building cryptocurrencies and their communities. An important key to
inspiring participation in any community, currency or free market economy is a fair
accounting system that consistently reflects each person's contribution. Steem is the first
cryptocurrency that attempts to accurately and transparently reward an unbounded
number of individuals who make subjective contributions to its community.
Steem Whitepaper: steem.io
STEEM Breaking out of a Descending Trendline?STEEM looks to be breaking out of a downward descending trendline. Confirmation is still needed on the daily and so admittedly this post is early but we are in a buy range regardless.
While many investors rate cryptocurrencies by market cap, blocktivity.info takes into account all of the actual activity on the blockchain. This provides a clearer picture of which blockchains are actually delivering value.
The above chart shows how the price previously hit three times the huge demand area and it looks for me it's about time to breakout.
STEEM one of the best => 50 USDSTEEM is one of the best coin you can buy. Very promising project with working product. Social Media 2.0
STEEM, long term investment and such a good time to buy.I believe STEEM has done so good during this definitely hard time for the cryptocurrency market, we have not seen it break through the range to the downside and i believe we have found bottom, since it was testing the last fib level and it can go only up from here.
Besides that.. i consider STEEMIT as the social network of the future.
My first Chart, I have a lot to learnThis is my first time on tradingview. I am going to be learning a lot to empower myself. As you will see I just did a basic 1st example of what I thought Steem might be doing as soon as BTC starts rising. Please feel free to share negative points with me to help me learn
Morne
STEEM/USD Overall Chart review on Poloniex weekly candlestickSTEEM started trading on Poloniex on 18th July 2016 with a low of $0.82 and a high of $4.80 and closing at a price of $3.74.
The market became bearish for 6 months from July to Jan 2017 and began to consolidate as low as $0.09 from Nov 2016 to March 2017 before a breakout on March 13th 2017 forming a partial CUP and HANDLE pattern to close at $2.40.
The bears took over the market and drove the price down to from $2.47 to $0.80.
On the 1st of 2018, the Bull were back more aggressively pushed the price up to $8.74 and closed at $6.40 with the bears pushing the price down by approximately $2.
Over the course of 4 weeks prior to the all time high of $8.74, the price entire cryprocurrency market has since been taken over by the bear due to the news of ban and regulation in S. Korea, Russia, India and other countries.
The market is in close observation with ears and eyes on the news to ascertain what to expect in coming weeks.
According to MACD, there is a bearish divergence which indicates the presence of the bears still trying to push the price down. As at time of writing, STEEM was trading at $3.70.
STEEM $10 Projection
STEEM projection to $10
Based on blocktivity.info STEEM is the busiest blockchain in the world with record of over 2 million transaction per day compared to Bitcoin's 497,347Tx and ETH 1,372,918Tx.
While many investors rate cryptocurrencies by market cap, blocktivity.info takes into account all of the actual activity on the blockchain. This provides a clearer picture of which blockchains are actually delivering value.
Bullish flag/pennant pattern on Steem Cryptos that can combine some level of fundamental analysis AND technical analysis will be long term winners based on the philosophy of the "Tyranny of OR and the Abundance of AND".
Steem is a great platform and contributors are making real money (not me yet since I'm still new). I abandoned FaceBook after seeing all the misinformation and lies being posted so Steem content is a breath of fresh air and more truth since your reputation is at stake...and content never goes away.
If you believe in the Steem platform, this might be a good time to buy with a nicely forming flag or pennant pattern.
Since I've been posting some negative or dooms posts, figured I should focus on something positive!
(I'm not a financial adviser and I own steem coins).
Steem on the road 20$Steem/Usd look super bullish!
It has triggered a Head&Shoulders pattern with the all time high as target.
Retest of neckline done!
If the all time high breaks there will be 4 targets I want to mention
1. 10.60
2. 12.71
3. 15.10
4. 20.00
STEEM to $100?STEEM is going to go $100.
Look at the rising volume! The sweet accumulation period is about to come to an end. There will be dips along the way, but overall 2018 will be a great trip!
Total accounts created on Steemit
668K+
Daily number of posts
250K+
Daily active users
60K+
Average daily new accounts created
2500 - 12500
And counting!
We use social media every day so why not get paid for it in a cryptocurrency that will increase in value.
Personally, I do not know why anyone would stop using this platform, do you? If you have a few hundred dollars laying around, buy STEEM.
The idea is so revolutionary that I can imagine that Steemit becomes the most popular social media site for techies.
The ability of early participants to earn a lot of money sounds like a ponzi scheme, but Steemit has made some steps to keep the market unchanged and increase its long-term viability.
View the original post here: steemit.com
STEEMDANIEL BRUNO
NOT A COINCIDENCE THAT THE CROSS OF THE 45D ANGLES IS TARGET, RESISTNCE AND FUTURE SUPPORT
30D SUPPORT WITHIN 2/1 FAN IS BULLISH
50% RETRACEMENT FROM 8 IS 4
1/2 AND 1/1 RESISTANCE
34 BAR MOVE TO TOP AND 21/22 TO 45D CROSSROADS, NOT A COINCIDENCE
13 MORE BARS WILL BE FEB 8 CROSSROADS OF 30D AND 45D RESISTANCE ANGLE
BASE 3
0 DEGREES 4,13,30,55
90D 6,17,36,63
180D 8,2,42,71
270D 10,25,,48,79
NOTE THAT 4,6 AND 8 ARE RESISTANCE AND 10 WILL BE, TOO
DANIEL BRUNO, CMT
FOR HIRE
Steem the growth after a little correctionSteem possible small correction and continued growth in the fifth wave