For this task I would like to talk make an entry of STEEM/USDT, Before I proceed I would like to give a brief on the steem token, Which I believe we all might have an idea on this token, When we consider our very own platform that is the Steemit community. We can bear to it that its initial token is the steem. The steem serves or has so many useful, Some of the uses to its users is it can be used for powering up to build your steem power for voting purposes. The Steem happens to be a decentralized exchange where users do not need any third party before they can make an execution. This steem token was launched in the year 2016, So users can purchase the steem token on numerous platforms such as Huobi-pro, Poloniex, Bittrex, See Price, Upbit. etc From my coinmarketcap I was able to see all the statistics of the steem token.
Today am very optimistic about the steem token because when you check previous days gone, The price of the token was really in a dip, This was harming a lot of users on the market who would like want to make a sell order on the market. But traders who would like to make a buy entry and keep them in Wallet till it rises for them to make a sell order were so cheerful. So today I decided to make a buy order of the steem token, Because I can see the market is rising a little bit, So I can be able to sell anytime the market rises a little bit for me to take some good profit. With the steem token when compared to the other tokens like the BNB, BTC, ETH it does not have a higher price on the market so I make a sell order it there is a little rise in price on the market
So here before traders can make a good analysis of a cryptocurrency to make a good entry, It is always recommended they join two or more indicators and other strategies to help them make an accurate analysis. We all know nothing is 100% assured, The cryptocurrency market is not constant it do change sometimes. So traders make he very careful when making an entry. So here I will be joining some indicators such as MA and the RSI for my analysis before I made my entry. And I also set my support and Resistance level, take profit, Entry point and stop loss on my chart.
From my chart I have market an entry of 0.3214, From this analysis I will making my buy order on my huobi-pro wallet, I will be showing screenshots below.
From my chart I market a take profit of 0.3246, So anytime it reaches my take profit level I execute my trade to make some good profit for my self, Since the steem token do not have an extreme rise in price, It always rises small on the market.
With the steem token I do not want to hold for long Because currently, we all can testify with me that the price of steem on market is not appreciable, In this previous days you will hardly find the price on steem at even $0.32, Mostly we see it at $0.28,$0.29. This price is not appreciated by users. So anytime my trade hits my take profit I will sell the token to get some little profits.
Yes, I would recommend the steem token to everyone to buy, Because when you look at its current market price, It is not appreciated. So everyone can take the chance to buy more steem and keep in wallet, So anytime it rises in the price they can sell and make a profit. Because anytime it drops in price, The buying rate also reduces. So everyone should take advantage now, I still believe it will rise in price some other day.