While looking at charts of Steem, I get an idea of things which were running against this script seems to get over.
Firstly, let me show you, people, a chart of Steem......
Following things were bothering me....
- Ongoing pattern of Lower highs may stop now as Rising Trendline has provided support to steem price which helps price to bounce back.
- Moving averages were seemingly contracting which may stop now as there is a definite attempt of break up from 10 days ema is going on, if succeeded then moving averages may start expanding again which will cement the bullish view.
- Lower volumes or below average volume is still bothering me. These volumes level should move higher to confirm bullish bias in this script, otherwise, lower buyers participation may lead to breakdown from support levels.
- Their is triangle pattern working for this script, if steem manage to break the resistance of 60k satoshi then this script will move much higher with utmost velocity.
With that said, I am signing off this analysis here.
If you like my analysis then do not forget to upvote, follow, comment@jimmyrai28
if not then criticize, this also will be highly appreciated.
You can also drop a comment in 'reply' if want you want me analyze any script of your choice.
Now you can also find me on discord channel: https://discord.gg/VvHmhvH
One can also resteem and get free upvote on their post by just replacing http:\ with re in their post link.
Thanks for a good analysis.
I am also looking for a break to the upside. That ascending triangle is technically a bullish continuation pattern. So let's hope the media do not interfere with their scare tactics. There has been enough rumors and speculations now.
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you are right on the money my friend!!!
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Thanks! Followed.
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your information is great...... Lot of thanks for Sharing this informative and valuable post....best of luck brother....
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by jimmyrai28 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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@jimmyrai - The good news is appreciated!
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Looks good to me and hoping for an upward trend of course. I'm not familiar with technical analysis but isn't an upward trend on low volume a good thing?
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@creativeidea says Thanks for sharing this helpful post "Steem(STEEM/BTC) Update " I hope next you publish another post about steem update. @jimmyrai
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Have joined you on discord...will chat there
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