Cryptocurrency market state| Price predictions XRP and STEEM

in cryptocurrency •  7 years ago  (edited)

Hello Steemians! I told you to wait for a breakout, didn't I? Well the only breakout we got was a bearish one. It is not looking good, let me tell you. I did predict the price would touch the lower band, but now there is a breakout and confirmation. It is better to wait for the break of that low ( the confirmation of the confirmation) before we start panicking.

There is an important price resistence around $0,88 if it goes further down. Bands are starting to wide a bit, not a good signal aswell. I hope I'm completly wrong on this one.

Bitcoin isn't showing anything interesting aswell, so there is no reall sign of market recovery. No need for a graph on this one.

Usually breakouts, bearish or bullish, develop faster, but who knows what might happen.

(XRP chart)
xrp.jpg

On the other hand, how strong is STEEM? Uh? Holding the $6 range, when everything else is struggling.

I expect a pullback, after the signaled entry by the Williams R%72 and SMA100 setup, and it did happen. To be honest I was expecting a even bigger and more confusing one, giving the overall state of the cryptocurrency market.

Trades signaled by this system, develop slowly and take a couple of weeks to reach the objective. It might happen that this was not a very good one, due to the circunstances, but so far, perfect.

steem.jpg

This is my own opinion, don't use it as financial advice.

For my predictions, I use a technical analysis trading setup I explained here, and also my knowledge of other setups along with common support and resistence lines, and Fibonacci levels.

As you can see I don't have a huge following base, so if you want, you can help me by resteeming this post.

Thank You!

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Yes, I can see one more retrace happening with BTC around 8600. STEEM is quite sensitive and might go back to $3.