You are viewing a single comment's thread from:
RE: Market Update: STEEM (STEEM/BTC) - Are Steemians gonna be rich?
There is no "bull flag" in it.
"bull flag" needs an up trend, and STEEM/BTC and even STEEM/USD are in a down trend.
The former being in a severe down trend.
What tell you this? More volume more dump and more pump to come no?
IDK, but STEEM/BTC and STEEM/USD are in no bull flag.
This is just in the short-term
This chart posted doesn't encompass the long-term trend
Such in the short term that it lacks the true perspective that shows that it is not a bull flag.
If your only given information was this picture (no knowledge of price history), would you say it looks bullish or bearish?
In this case, it's a bull flag, and this is why day trading is wrong.
Im not a believer in "technical analysis" despite I heard about and witnessed its success.
I agree day trading is very difficult/dangerous. Fundamentally, Steem should be seeing some nice upside long-term. On the Daily chart, we want this box to hold support.