STEEM and SBDs - Chart Updates!
STEEM Vs USD
I thought my triangle pattern from yesterday was going to be violated a little while ago, but it seems that I just needed to redraw it.
Hey, it happens!
An updated look of the STEEM/USD triangle pattern now appears to have the "E" put in, and I'm expecting - and hoping - that this will mean a breakout to higher STEEM prices.
The MACD for STEEM/USD is still somewhat choppy, but if the above is correct? I wouldn't be surprised to see it turn more bullish soon, and break above the 0 line:
STEEM Vs BTC
I thought that the resistance line we had been battling was about to get broken, but alas it hasn't quite been breached (yet?). Here's a quick look:
As you can see, it attempted to break the line, but fell back below it. It is currently trying to break out again, so things could be looking up from here!
On the other hand, if it is a triangle pattern, how about this?
If that is correct, then it is following a very similar path to the USD pairing, which should mean more upside here too!
The other reason for further upside is a bullish MACD:
SBD/USD
I'm still waiting for the "E" to happen in the SBD/USD pairing, and the MACD could be signalling that the prices will be heading towards the bottom of the triangle pattern soon:
It looks as though the MACD is about to turn bearish, which will hopefully see prices touching somewhere around the "E" area here:
If that happens, it should confirm the triangle pattern and SBDs will bounce up from there.
As always, I caution that I could be wrong! But, we'll see what happens.
Update Later
I might have to do an update on these later today, because the STEEM ones should be confirmed pretty soon, judging by how near the end of the patterns they are. SBDs will take a while longer to reach the end of that pattern.
Any more?
Seen any more cool STEEM or SBD price predictions today? Or any thoughts on the next move for either of the STEEM tokens? Leave me a comment if you've got time!
Thanks for viewing!
For more awesome technical analysis and crypto related posts, see also: @toofasteddie, @gazur, @ew-and-patterns, @pawsdog, @cryptomagic, @exxodus, @beiker, @allthereisislove, @lordoftruth, @masterthematrix, @cryptoheads, @tombort, and @maarnio
Not investment, financial, or trading advice & purely for entertainment purposes. Who doesn't love charts?
Great analysis..steem has jumped quite a bit recently, i haven't even been following it..time to post again!
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Thank you @necrophagist!
Yeah, we've had a great rally lately! Absolutely a great time to get posting again. :-)
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I enjoyed your post. Through osmosis like phenomena i am slowly but surely starting to understand this predicitive magic.
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I believe sideways is the near future direction. I woke up today and was pleased that steem continues to be around 6usd. I can see it at 15usd by june. I have no math but rely on intuitive creativity.
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Yeah, you can sometimes get a feeling for it, sideways action is usually a good indication another rally could be coming in my view, although I've seen it go the other way too. :-)
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Haha! I like that analogy @jazzresin. :-) I'm still learning too.
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No one doesn't like charts!
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Hehe! :-D
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I have a feeling it will go sideways for a bit but that is only a hunch. Also saw in another post that wall street bonus’ go out Jan.15. That is potentially a catalyst for crypto to move.
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I keep seeing that too @fow! We'll have to see what happens I guess.
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Steem will probably explode in next few days as it exploded at first day of this year!
p.s. It will be more analysis again! My work of past few months to be shared with All Steemians please resteem and let it be of great use TFDSRE: #1, #2, #3.
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I think we have a bit more correction to go after looking at it again today, but we'll see!
I'm sure we'll see a new all time high some time soon.
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STEEM and SBD going to moon this year
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Let's hope so @jahangirwifii!
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