Steem is a social blockchain that grows communities and makes immediate revenue streams possible for users by rewarding them for sharing content. It’s currently the only blockchain that can power real applications via social apps like Steemit.
STEEM (STEEMBTC) Chart Analysis
Long term chart:
I've drawn a few channels and boxes showing the different waves STEEMBTC had over the years.
It is pretty easy to spot a strong wave up after a long channel down.
The smallest bullish wave on the chart above was from Mar to May 2018, which generated over 150% profits.
To me this is a very profitable wave. We also have other waves that generated up to 2500%+ profits, such as back in 2016.
The next wave I am expecting for it to be a big one, maybe 1000%+ if we are conservative... This is cryptocurrency trading after all.
RSI is oversold, which is a very strong signal on the weekly time frame.
STEEMBTC is now out of the latest descending channel, so a break up can happen anytime.
STEEMBTC Trade Instructions by Alan Masters
Buy in: 0.0000720 - 0.0000760
Targets:
(1) 0.0000850 (2) 0.0000980 (3) 0.0001172
More targets on chart.
Stop loss: Close weekly below 0.0000600.
Capital allocation: <10%.
LIFE FLOWS FREELY AGAIN
Free I am in life, like FREE you will always be.
Live easily happily ever after by showing yourself more and more.
Live being grateful of what you have, instead of being fearful of what you don't.
Just saying "Thank You, Thank You, Thank You!" in front of the mirror can start the process of helping your life flow.
Easily and freely your life will flow again.
It all starts with a single practice... The result is being grateful, the practice starts by saying thanks.
THANKS FOR YOUR CONTINUED SUPPORT.
Namaste.
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If we take a closer look, we can see that EMA10 and EMA200 have been conquered on the daily time frame. Now this is a good signal that STEEMBTC can move soon.
The first try happened on the 22nd Dec., marked yellow, you can see a big volume bar and the break above EMA10 (green line).
STEEMBTC retraced and is now trading passively above EMA10 and EMA200.
Yesterday's candle's volume is also higher than average... bullish signals:
-The RSI is on the bullish side and the MACD is starting to curve up strong.