STEEM - Support line broken

in steem •  7 years ago  (edited)

Hello all,

We finally broken our support line on the STEEM :

STEEMUSD.jpg

We have still the little support line from the previous BOTTOM to help us to stop the drop but yeah we are not in a good postion...

I'm also a little bit afraid about the pattern that I see as we could interpret it as a Head and Shoulders which is a very bearish pattern.

Let's see my friends if we break also the support line in orange. I would advise you to stop to buy STEEM if you see that we are breaking that line in orange also because it means the BOTTOM is still not there.

However, if you see that we stay between these 2 lines and we are not able to break the orange line, it is a good level to buy back some STEEM but always in several parts, it is really important to avoid stress if we continue to drop and also to keep money to buy below.

I wish you massive profits,
Cryptopassion.io

Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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I can't see it going below 6k it's been quite the roller coaster lately I guess it won't matter much by next year anyways. I'll just keep buying.

Ive picked up some steem today, I just couldn't wait any more lol

thank you very much for this post

I think the great community behind steem with push through this and keep going!!!

Indeed. Any idea with a community behind it is destined to flourish in the long run. 👍

Good work ,good post.

Yeah H&S is a pretty serious bearish reversal signal.

Inverse h&s almost never lets me down.

Truly difficult to be hopeful at this time, yet one must say the market has seen worse times than even this time. But I thank you for your analysis. Caution is the word.

the last time the market has seen this level of tanking was Mt. Gox. Ever since then the corrections haven't been nearly this bad

  ·  7 years ago (edited)

Do you give an opinion or just a forecast? @cryptopassion

BTS also has head and shoulder pattern that has breached the neckline.

Nice work

Oh, hell
This decline is very scary 🙁

Nice work

Nooooo

Yeah its going very bad now a days
Thank you for the very kind advice

Honestly I’m not stressed , sometimes I am. I believe jsut like you, it’s a great time to buy when it falls because Steem has a lot of potential this year . Even the audience of this paltform is increasing and hopefully the price will rise beyond its $9 high

Maybe this will bounce back. .steem is a long term opportunity :-) I will follow you :-)

Really not too stressed about all of this; trying to stay mostly with coins that have a "function," like Steem and Bitshares... I think some of the so-called "shitcoins" that have little more than promises to offer are going to struggle in the months ahead, perhaps lose the majority of their value.

Those who know whats up will not be baited into selling in a bearish market. Buy low Sell High thats the game and always HODL! not worth losing on such a good product that will go up.

Frankly I think this is all an attack from the Elites (governments, banks, corporations, media) who feel threatened by Crypto, I don't think this is normal so it can't be seen as an every day happening, it is an attack and anything could happen. There are no lines no limits , the attack is heavy and I hope crypto can withstand it.

Ugh, this has been a bad one for sure

It this point my massive profits are gone.

thanks for this valuable information friend

It's interesting!
@fullness2018

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The bear is roaring. Smh.