That STEEM breakout we talked about is happening...
STEEM is breaking out of its symmetrical triangle pattern to the upside
We talked about STEEM breaking out of its consolidation pattern for a few weeks now.
It's trading range had been getting narrower and narrower.
Much like the broader crypto and bitcoin market.
Well, it finally broke out of that pattern...
Check it out:
(Source: https://twitter.com/crazy_holder/status/1281128040098119681/photo/1)
Keep in mind that this is a chart in terms of BTC, not USD, though the USD price did go up a few ticks as well.
This chart is from a few hours ago and unfortunately BTC is seeing a decent sized dip which is also pulling the rest of the market back down with it.
I would expect STEEM to retest that breakout spot on the triangle and then head upwards.
The trade would be invalidated if STEEM went back below the breakout spot and also went below the bottom of that triangle.
Stay informed my friends.
-Doc
Euphoria soon. it's hard to keep an eye on steem with many alts breaking out.
Got my bags, will be loading up moon bags, whenever i can. when steem finally breaks out and head for ATH, i think alot of the crypto community will be taking by surprise :). The market cycle has been abit weird for steem.
Yea steem has been a laggard for sure. The big question is whether or not it will participate in a full blown altseason or not?
would be disapointing if it doesn't. I guess that's the risk involved aswell with it tanking to all time low.
I don't see it tanking as someone or someone's has been supporting the price for months. However, I am not sure whether it will run or not when an altseason happens. It has been a laggard thus far while many other altcoins are seeing spectacular gains.
No idea why someone or someone's supporting the price without any intention to pump it. Maybe it's a strategy to shake out weak hands, as the pump might be huge.
Yes, those are my thoughts exactly as well. Though it's impossible to know for sure what is going on.