STEEM is operating within a wedge. It could break up or down in the very near future. My bias is a break down to the 15.6K-15.0K satoshi support zone...although a bear trap is possible.
Zooming out to the daily chart, we can see clear hidden bearish divergence on the Stoch RSI.
Viewing the larger picture, STEEM has been operating within a wedge, creating lower highs and higher lows. As it approaches the apex of this wedge, a breakout becomes more likely. My bias is, STEEM will breakout and up sometime mid to late September.
In today’s video analysis I discuss possible trade setups, how price may react to different scenarios, traps to avoid and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or https://mentormarket.io/profile/@workin2005?aff_id=Workin2005 in order to watch.
BIAS:
Short Term: Slightly Bearish
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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Follow me on Twitter (handle is @Workin2005) and Facebook to receive the latest updates. https://www.facebook.com/Workin2005. Also, make sure to check out TIMM (Traders & Investors Mentor Market), a STEEM based platform for traders and investors of all levels. You can find the link to TIMM below.
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by Workin2005
Thank you for your posts and video analyses. I'm brand new to crypto, and I learn new bits and pieces every time I watch one of your videos.
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My pleasure @bananamemos. Glad to help and wish you the best.
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In long term, Steem could become milestone for social media platforms
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Could be.
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Great post dear @ workin, can u tell me plz steem treading is profitable these days or not?
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Thanks @asrarahmed. In my opinion, STEEM will do well longterm. Short term, we might see price drop further. I wouldn’t try to catch the bottom. Instead, wait for confirmation of an uptrend and buy into strength. If you do want to buy now, I’d dollar cost average into a position...not buy all at once. Hope that helps.
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Great post Buddy....
I'm new in steemit so please Follow me Support me in recent post
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I agree,steem will bitcoin
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