Price Analysis: STEEM Bull Flag, Will Traders Salute?
An update on the continuing formation of the STEEM bull flag and how to figure out where to set a sell stop. Plus, does technical analysis and charting allow us to see into the future?
#price-analysis #market #money
Keep calm and Steem On!
The Steem platform, I believe, will be the stepping stone for all future social media platforms to follow. It's a breakthrough in social media technology, which rewards its content creators with money. I love the idea, and I'm glad to be apart of this revolution!
May we all continue to contribute to such a beautifully structured social media platform!
Would appreciate to have more expounded technical analysis like exactly what that formation means, & how strong. At the moment, without tech analysis as I don't know how, I think price is still going down for today or few days.
There's two things I've picked up on : Fundamentals and Technicals. Sometimes TA is more important, other times FA is more important.
Due primarily to the percentage of available liquid Steem tokens, and the transparency to know at least 7 days in advance what sort of volatility could be coming, it makes betting on it almost child's play. I'm a total noob since January... this one was an easy bet once I understood the fundamentals behind the platform and the tokens.
If you zoom out on the chart, the signs of a breakout in the near future is apparent. Given the fundamental assessment above, the likelihood of it breaking out UP seems far more likely than a sell-off.
Anything's possible, but betting on STEEM right now seems like a medium risk-high reward bet to me. Fortunately, my articles from being here early helped make the decision to invest in the platform simple.
Thanks blake, spot on.
No one knows, No one will ever know. It doesnt matter how many lines you draw on a chart its still bullshiza at the end of the day.
All TA is really is graphic representation of herd behavior, which allows the analyst to make informed decisions. Price technical analysis has been traced back to Japanese rice traders in the 1600's. In the chart in the video the set up is very strong with higher volume on the impulse (or green) waves and muted volume on the correction waves. After creating my first video I was so impressed with the chart that I went out and purchased some more STEEM. Because of the chart I was also able to set a sell price in advance and just walk away and forget about it. I think I may try and make a video of TA basics; thanks very much for watching!
here you see it in real time ----> www.steemdollar.com
Great to get someone looking at the technicals. Keep up the good work dash!
I like the flag formation...so clean... SO BULLISH !!!
I appreciate your sound analysis, I checked out your other posts too great stuff! I will be looking forward to your videos as we progress!
Thank you, most appreciated.
Is your chart really the Steem chart ? When I look at coinmarketcap I don't see the same chart as you have.
http://coinmarketcap.com/currencies/steem/