Hello my fellow Steemians and crypto enthusiasts!
Let's have a look at the STEEM price charts on different time frames! And, of course, I will apply Candlestick & Technical Analysis.
So, at the moment STEEM (STEEM/USDT) is trading at the level of 0,3221 on Huobi Global crypto exchange. On 1 Hour chart a few days ago (on January 25th) the price of STEEM went out of the Ascending Channel:
And, in my view, it is a bearish signal, even if we have in the next few days some kind of rebound:
The situation on 1 Day chart looks quite bearish as well:
We have a «Shooting Star» (In technical analysis, a shooting star is interpreted as a type of reversal pattern presaging a falling price). The «Shooting Star» candlestick is followed by another solid bearish reversal candlestick pattern called «Three Black Crows». So, in my view, the «Three Black Crows» simply confirm the bearish signal of the «Shooting Star».
All of the above-mentioned confirms that the Bearish Sentiment is growing.
Now, let's have a look on 1 Week chart.
We see that the chart is going sideways and we still don't have on the chart a sequence of candlesticks (of, at least, three or four candlesticks), which have higher Highs and higher Lows. So, it means that the bulls cannot push the price of STEEM higher. That's why, in my view, the situation looks quite bearish. But, lets see what will happen ...
So, what are you thoughts on the STEEM price?
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 12 and a half years, and as a cryptocurrency analyst for the last almost 2 years.
You can also have a look at my recent posts about trends:
- In which phase of the chart do you think the price of Bitcoin is?
- What is an Uptrend and how it looks like.
- Is the Crypto Market in a Downtrend? Yes.
#trading #investing #technicalanalysis #candlestick #trading
Unfortunately I have to agree with you, we're still in the grip of the Bear. The price looked better for a few days but it's back to business as usual. My portfolio is so depressing.
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@blueeyes8960, yeah .... I understand you. Probably we will have to wait a couple of years ...
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Interesting!
Let's see what happens next.
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@behelen, I don't like this Bear market ... and it seems that it will be quite long.
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Добрый день! Возможно, это не лучшее место чтоб спрашивать, но будет ли продолжение "Ежедневного обзора крипторынка"? Не нахожу на сайте Альпари курса в расписании уже неделю.
Один из ваших постоянных зрителей)
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@uhoman, к сожалению нет. Я уже не работаю там. Однако я буду здесь проводить свои обзоры на английском. Так, что пишите и смотрите здесь. Я буду рад.
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I believe the downtrend movement is caused by a lot pressure selling their liquid steem. I check the price every day and Steem almost lose 10 cents this week.
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@chesatochi, plus we have to keep in mind that BTC is under pressure as well ... hence, the whole market is under pressure. It is really pity. I don't like this Bear Market.
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sadly the bear market wont end until 2017 is a distant memory and everything that happened has left the market. The next cycle wont begin until this one is dead. Every cycle that happens will be longer and longer and more and more extreme on both ends of the scale.
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@jphamer1, yeah man, it may take 3 to 5 years till the next bull run starts.
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@jphamer1, do you have a minute to chat? I am @emrebeyler on https://steem.chat,
emrebeyler#9263on discord. Thank you!Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.01% upvote! Together, let’s change the world!
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Thank you!
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Thank you!
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STEEM is a low volume coin, normal volume on Bittrex is around 80BTC and Binance a little higher.
Our whales don't have any respect for it so it is an usual pump and dump of either of the assets. (STEEM or SBD)
Our beloved steem is a greed/sentiment driven coin thanks to irresponsible stakeholders.
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@nnnarvaez, thank you for stopping by! An interesting point of view and comment.
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