STEEM - Consolidation but little Break Out in progress

in steem •  7 years ago 

Hello all,

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

Since this morning, we were in consolidation mode, exactly like the Bitcoin. However since one hour, we have a nice volume buyer which is still currently in progress. The first objective of that little UP is to go test the resistance line in red around 2$. We have a high risk that this resistance line creates a pull back but let's stay positive, if we can break it , the next objective is to go test the resistance line in blue around 2.25$.

I wish you massive profits,
Cryptopassion.io

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if btc increases little bit then steem probably touch 2$

I feel like the price is keeping up with the mining profit parity, which is around $8K+. At that point the miners are just losing too much money and wont be able to sustain a profitable business. Some smaller miners will just shut off their mining rigs but others will suffer and end up going out of business (depending on their location and cost of operations).

Chinese miners are having a field day with super cheap electricity now.

happy to see that steem is now struggling and hope that it crossed th 2$ with in nest hours. thanks @cryptopassion for updates.

This will be great for stopping the bleeding ;)

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It could be b/c of Appics, Steem first SMT having there ICO tomorrow. Also, Steem is growing. Almost 1 million accounts now.