Hello all,
Yesterday, I was showing you that this support line is blue was currently pausing the drop : :
Here is the current chart :
That support line in Blue didn't stop us but we are now paused on the next support line in yellow.
This support line in yellow is a very long term support line as you can see here :
I expect big support on that line and I really hope it will hold the drop because if we break also that line... I would say we can be back quickly to the 1$ level where we have been stucked during months...
A bounce from that support line is for sure a possible scenario also and I will monitor it closely.
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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Very informative
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So monitor closely. Hopefully up but maybe down! Let’s see.
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Thanks, very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
What is your favorite Hardware Wallet?
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These charts are similar to about 90% of all ALT coins at the minute.
The whole market is currently being screwed massively mainly due to MT Gox.
This about sums it up..............
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Woke up today to see Steem drop more than I expected. Oh, Steem. It's okay, it will get better soon.
In a sense, I think that people need to see Steemit more as a blogging platform and not so much as a money making machine. Too many people are on Steemit simply for the potential income. So when the price of Steem drops, they are the first to go. Real Steemit users know that money comes after the social media aspect, not before. Once people realize this, they won't go crazy with FUD.
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Technical analysis for cryptos are not very accurate as we do for the stock market. What is the reason behind it?
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Crypto market is immature yet. We do not have so much data to value, compare securities or predict prices. It’s an unexplored area.
Crypto investors, in general, also have no risk profile for this investment .
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When I saw the whole market crash I knew Steem would take even a bigger fall
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It seems like a domino affect. I'm reminded how FUD causes the anxiety, that creates the panic to sell.
Best regards.
Peace.
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Excellent teaching lesson! Thanks for showing an example (and explanation) of the importance of the support line.
I'd love your analysis of BTS. The declining numbers have a lot of people speculating on its survival.
Best regards!
Peace.
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Your content is truly rich and very informing. Thanks for the updates.
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Nice post brother
Good luck :)
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Good post 😊
I like you
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thank you for all of this! I am looking forward to our 1 on 1 session. If you have time, would you please do an update on EOS! I
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yeah its really a very long support line. thanks alot for the information. glad to see you here in steemit community. keep updating us.
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Awesome analysis, well done!!
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Will that drop continue?
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I believe so, in the short term. volume is increasing in this
falling motion and this is not something positive.
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great post
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Well, just some minutes ago - before I read this - I bought some steem.
So in some way, I supported the support line - let's hope it was a wise decision :)
Normally when I invest my own money it gets lost.
When investing money owned by someone else (like the money of my boss) he makes big profit ;)
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I said I was gonna buy yesterday, and never got around to it.. Same thing today, it was my mission to buy Steem.. I didn't do it.. I'm dragging my feet because I'm not really sure how to do it.. I'm still a noob. All I can say is thank god for YouTube. I will be learning this tonight. Thanks for your post @cryptopassion. I would hate to miss the boat !
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this is not a good news for the investors. if its drops till $1 and it remains than it will be a big loss. what if it get stable at its threshold level and dont go below yellow lines. is that also possible ?
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Good Post!
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I think you need to do a bit more work on your support lines dude. You can't just draw an abitrary line every time the price makes a minor reversal and expect it to mean something. Some of your lines are literally 1 candle apart.
Seems like a bit of a dartboard approach, throw enough lines on there and eventually one of them will stick, it doesn't work like that.
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Very good post.Thank's.
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good analysis welldone :) @ cryptopassion
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