Hello guys,
on this post we analyze the spread STEEM-BITCOIN in 3 steps:
1 PRICE
We use a 4h candlestick chart. The price move in sideways @0.0032/0.0038 and now is in the middle of this channel.
For a new bullish intraday-trend, it must necessary that price will break this resistance @0.0038. The target is @0.0044. Otherwise the bearish target is @0.0032. Under this level the spread could collapse.
2 RIBBON
This indicator suggests to us that the trend is bearish. For an inversion it's necessary that the yellow exp-line (@0.00367) crosses the second exp-line (@0.00369) and then the other lines...
3 OSCILLATORS
The MACD is ready to cross the signal line. The RSI and CCI must break the trendlines (blu) to confirm a new bullish trend.
At the end, we think that the best strategy is to be flat on the market, and wait for a new strong signal above the resistance. At the same time it's possible to go short under 0.0032. In this case the price can accelerate to the target @0.0025.
For any questions please do not hesitate to ccontact us.
Best
Thank you, and remember:
Trend is you friend!
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yes.... trend is your BEST friend!!!
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@quant01 Nice analysis man. I look forward to more of your charts and analysis. I will be posting all of my live trades and trade setups on here as well. Keep up the good work! Some slight RSI Div in there too. Looking forward to see how this plays out, you and I are on the same page on this one.
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Hello, tnx domavila...
We'll see what happen in the next hours... For the moment the div works...
What do you think about ribbon?
Best
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I have never used the ribbon before but I liked your analysis with it and might study up on it a bit. Maybe use it as a trigger on a lower time frame for my entries.
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Ok, if you have a questions... let us know
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For sure @quant01.
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Nice analysis. Any thoughts on SBD/BTC (Steem dollars)?
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