STEEM: Breaking upwards or about to break upwards?
Hi steemians,
Just thought I'd make a quick post because STEEM may be having a small break upwards right now.
As a trader I wanted to show the charts I'm looking at.
This chart shows the 1 day MACD on poloniex. I've put a red arrow to show where it changed from red to green before, and another arrow because it looks (to me) like there's a chance it could be changing from red to green soon - but only time will tell.
Note however that all the other traders out there look for these signs too(!), and so will often buy 'before' they think there's going to be a change over - and when it actually changes from red to green, you may have missed the best opportunity. In fact, it could be time to sell once the change over occurs, if the upswing stalls at that point.
Disclaimer: I just bought a bit more STEEM so I completely don't want to suggest people buy STEEM (because I've just bought some, and I could decide to sell soon after posting this). Instead, I just wanted to post the charts that I look at in case anyone is interested. Also, of course it's nice for everyone involved if the price of STEEM goes up rather than down!
Here's another picture which is the buy/sell graph on poloniex. I've been watching this for a while, and the buy side seems a bit healthier today. (However these charts change all the time, so tomorrow it could be unhealthier again!)
Finally, here's the graph from coinmarketcap:
I've circled the recent activity which shows it's been flat for a while, but now shows what could be the start of an upswing; or it might not be. Only time will tell. It also show a recent 'higher low', which is something I normally look for, as a positive signal.
Disclaimer: This is not trading advice.
I made this post just for interest, and discussion, and not for any advice for buying and selling.
Please let me know what you think?
Also, I'd be very interested if people have advice on the best way to present this type of stuff without suggesting buying/selling.
Or whether posting this type of stuff is interesting or appropriate? Thanks!
Despite other coin i can say STEEM has a correct price and this is why:
2.Has a real social value.
3.It has a growing image among crypto users.
4.Anyone can send fast coins anywhere without blockchain problems.
Think about new crypto on the market. Just big scams that smart guys make. Steem will stay top ten or top 5 in next years.
And the most important thing. We will hold our steem even the price goes down. You know why? Because it has a big value for us, the community.
Brilliant comment... exactly my thoughts. And, the type of thing I'd like to put in a post, even, if I can write something along those lines sometime :)
The social aspect is why I decided to commit so much of my funds to be locked up as STEEM POWER, whereas with everything else that i might have substantial funds in I'm always thinking about selling if it looks like there is a possibility of a down-turn.
Well, I think Steem is undervalued :D
One Day Steem Will Be 10$ And Later On 100$ And That's For Sure. 👍
I like your comment. ....just imagining what I could do with my holdings if the price was $100! Like what type of yacht to buy.. :P. Haha.... Now: need to get back to reality :)
I bet, steem will reach 100$ ,someday ,then our lives will changed for ever ,thats for sure. Haha 🙂🚀🚀🚀🚀
Yeah, I never really believed it with conviction about ETH (although logically I thought it possible) - and look what happened!
Even DASH got to $100 and more (but I'm still thinking WHY! with that one ;) )
Exactly , good preview 😎 now we need to wait ,till rocket to moon will launched . Or to saturn ,or to another galaxy's ,haha will see 🚀🚀🚀
Hahahaha
I have read few comments, I guess one will never get tired of imagining how high price could go :D Thanks for a basic analysis, I took from this article the idea that if price is down, actually a lot of traders think the same and then market can move accordingly if they will buy
(Pic source: http://www.northropandjohnson.com/)
Thanks!!! You just cheered me up with that picture of the yacht :D.
There's where I need to keep my focus ;)
I think you called it right, steem price is moving up today.
(Yep, inserted a pic to give it a Youtube-analyst feel haha)
I know there is a report somewhere on how much power down steemit users are doing daily, can this be used as an indicator on steem price movement too?
This I'm not sure if this data is out there, might be good to know too- how much steem/sbd is sent to polo, bittrex, blocktrades from steemit accts and how much coming in.
I wouldn't know what to do with this info, still learning on analysis, just random thoughts lol.
Love your composition with your 'youtube analyst feel' pic :D
But, actually, I haven't been looking at steem right now - more concerned with BTC... because if that drops it can cause everything else to drop and completely knock out what TA says it should be doing! Next few hours / days are critical ;)
Yeah. I've been watching videos on this august's segwit impact to btc price. Scenarios presented
It would have been nice to hear predictions of it not going down though. How do you see this playing out?
To be honest, right now i don't think the market cares at all about all the stuff going with segwit / possible forks - and that, at the moment, all the market action is just based on increased adoption (if this is indeed the case), and 'technicals' (I.e., rather than 'fundamentals').
Still, if a hard work were to actually occur, I would expect huge amounts of turbulance. I'm hoping there won't be a split, and for segwit to get adopted via segwit+segwit2x signaling before Aug 1st when uasf would occur - but I really don't know.
In any case, I don't personally hold much BTC these days (but I do trade it). My holdings are mostly a split between alts and USD. I keep to USD to reduce risk, and also allow for the opportunity to buy into any crash :)
Funny we were just discussing this and now... the market is down to $93B with double-digit negatives on most coins!
I think I should sell my house and get hold of as much crypto as I can. Lol. Kidding. Will never do that.
Lol indeed :)
Yes, it is funny... but that's often the case: the volatility gets less and less, and suddenly it will either break up or down with a lot of force.
Personally, I wouldn't be completely surprised if it pretty much halved from its peak...so maybe e.g. $60B or less. If it did, I'd definitely be looking to buy back with a lot of my cash that's sitting out at the moment. But I still have a lot in crypto too, so I might be looking to offload a bit more on any opportune bounces :)
Yeah. The first time i saw the bloodbath i almost cried. Now that it's my 10th time to witness I just sit back and wait for the movement up.
And buy as much on bargain tokens! Sale! Sale! Sale! Lol.
I hope you're wrong about the $60B though...
Bloodbath? We haven't even got started yet, hehe :P. No, there's no way to predict what will happen - so I'm just joking there. But I just have expereience when bitcoin lost 80% of its value. Even last year ethereum lost over half its value. Plenty of alts have already lost half their value from their peeks this year.
So, seriously, I do think it's sensible to prepare for that scenario if it did happen. I've got plenty of crypto I will just hold even if it fell to 0. But that's balanced by the funds I keep in fiat, which I would hope to use to buy in at the bottom and thus offset the losses from the ones I held throughout.
Steem has dropped more than 10% but this is not fault of steem as the whole.market is in downtrend now.
I hope steem can get stable around 1.6 mark
Agreed
I hope it will raise. I wrote some post yesterday about the possibilty of market price manipulation, but at all i think steemit is some great plattform with huge potential. Since we did not even reach the one million user line, it's really in the early adopting phase, and after we reached 1, we will reach 10 much faster and the raise will be unimaginable.
Hope so! Thanks for your comment.
Thank you @xaero1 very good Job..resteemed
Many thanks!!
Thanks @xaero1 for sharing your point of view.
Steem found his support and will start to rise, My p.o.v. the price after one month will be $3 and over $10 in the end of the year.
The post is good , I will resteem it to my 841 hunters after I post Market Brief.
Awesome! thank you :)
Resteemed it mate
Please check my this post when you have time and let me know your point of view..
https://steemit.com/steemit/@lordoftruth/get-started-fast-with-steemit-for-new-steemains
Many thanks - that's awesome! Also, sorry - but yes, I had not forgotten about your post. I will make sure I look at it :)
I resteemed it
But there something wrong because I can see it in my blog !!!!!!!!!!
Oh well, nothing we can do about gremlins/bugs in the software! ;). But many thanks whether you are able to resteem it or not!
I resteemed it mate
The post was diplay in my blog and after few seconds disapear
Really is so interseting
I did not face something like that bug before
I will wait for your next post to resteem it to see if I will get this bug again !!
As I can resstem it any more
I post about you and your post
Hopping I am doing well
https://steemit.com/steemit/@lordoftruth/coffee-break-great-steemain-to-follow-xaero1
Wish you a great friday
Many thanks!
Always you are welcome
Thanks for great support
Great post @xaero1. Upvote, Follow and Resteemed. Steem On!
Thanks very much!!
Thanks for the update! I'm pretty new to currency trading... I always enjoy reading blogs that talk about the current trend. I'm sure Steem will continue to rise! :)
Thanks!! I can't predict if steem will go up or down, but I can say what charts I study and what signals I look for :)
Any signals in particular you recommend a noob should be on the lookout for?
Well, as I was saying in my post - the main thing i was looking at right now is the poloniex steem chart with the 'candlesticks' set to '1 day'. Then, what you need to do is wait for the lines on the bottom part of the chart to switch from being 'red' to 'green'. But it's not that simple since many traders are looking to buy on exactly this same signal (red->green)! So, to be sure you catch the break out, you may want to buy before you think it's about to change from red to green. However, often charts have a nasty habbit of not doing what you think they look like they're just about to do!
Another way is to just stare at the chart 24/7, and try to catch the break-upwards exactly if and when it occurs! ;)
Note: This is not trading advice, btw :) also, there is nothing certain about this red->green change guaranteeing a price increase...instead, this is just one particular strategy which may or may not work.
LOL. Oh okay... I'll be sure to wear my contacts when I stare at the screen 24/7... helps so I don't have to blink as much! :P thanks for the advice btw. Solid! I may not understand currency trade that well... but I do know the difference between red and green now. lol
Great. And good if you didn't buy yesterday like me, as the whole crypto market is red, and steem got swept up in it. On a day like this, all the cryptos on the first page of poloniex are shown as red (you can take a look ;) ).