Hello guys,
today we analyze the spread STEEM-BITCOIN (Exchange: Poloniex).
As you know the trend is bearish and any technical analysis suggests a reversal. (Previous post: https://steemit.com/steem/@quant01/steem-new-lows-and-now)
The first chart represents the spread on daily time frame. In this case the spread is strong bearish for the medium term and the target is @0.0015.
It's the same in the 4 hour-time frame chart:
Look at the ribbons... As you can see the yellow line (moving average) didn't cross the other lines. In other hands... no buy signal...
At the end... the 1 hour time-frame chart:
This chart is still in a bearish trend as the high-low configuration.
We think it's not a good time to speculate on this spread. The best strategy is to be flat and eventully looking for trading opportunities in some others crypto. Any suggest?
Best
Thanks for the warning. I'm now learning with Bitshares that you can't fight a falling market. The hard way :(
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Hello nxblg,
tnx for your post. We don't know Bitshares... We'll check it...
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Do you know MADE SAFE COIN and FACTOM?
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