A few days ago I posted the 3 days average chart of STEEM, with a trendline on top of the highs. Feel free to have a look at the full article, because it also has some historic references to the price of STEEM for the last year (spoiler: it grew up ten times!).
Since I posted that article, this happened:
In other words, the STEEM price broke up and pierced that trendline. Of course, it's still too early to tell if the breakout will still stand. Conditions are still very fragile after the bear market we've experienced for the last 2-3 months. I think it will be reasonable to wait at least 3-4 more candles to confirm the breakout of the trendline (9-12 days), but the fact that we do have a long, solid green candle crossing that line is very important to me.
There is still a lot cooking on the back, from SMT and Hivemind, to STEEM listing on Huobi Pro, so things are reasonably bullish, but in crypto, everything is possible: you can be on top of the mountain one day and then, the next day struggling in the swamp of red candles.
What I'm trying to say is that the next two weeks will be very important, from an economical point of view, for this project. If we'll get a positive response from the market, we can really expect a huge jump (and by huge I mean pushing STEEM on top 10 cryptocurrencies and, believe me, I made my homework and I know what it takes to be there).
All in all, that green candle piercing up was way too beautiful not to be saved for future reference.
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Very true... Things look very bullish for Steem now....I would'nt be surprised if we see sudden price rise upto $6....
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My target price is 7,5$ in one month, will it be correct? I wait a... YES!
Thank you very for your analysis.
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$3 dollars already seems surreal to me.
It feels like last week when Steem was just at $0.90
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I hope you loaded your bags!
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similar goals @malonmar
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Fantastic!
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There are few scenarios I'm looking at and in one of them STEEM could play in the $8-$11 range. But, as I said, it's still too early to tell. And markets are always right, obviously :)
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I believe that price is very possible, it is not a crazy price, steem is the more undervaluated coin of crypto universe.
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Not sure I believe in what can be deduced from wiggly lines, but Steem seems popular right now. No doubt there will be ups and downs as people take some profit. We still need real growth and development of the platform before it really takes off. We have shown it can work and now it needs to scale up.
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Power up times are over :) Lets go gambling with BTC and alts.
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thank you, we are always grateful for the quality of your articles
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Big fan of your optimism, but I do have a hard time putting much weight on any of these chart / trend analysis posts.
However, I would agree that there is definitely some excitement coming down the line w/ SMT's, Hivemind, and additional listings (more opportunity for trading on such a huge listing, I would imagine, would create lots of attention and opportunity). I definitely appreciate you drawing attention to these upcoming events rather than just pure TA.
I think these are the more important/tangible/quantifiable factors to look at, rather than any form of historical performance. All that TA stuff just looks like people drawing dots and making connections where there might not be anything, and a lot of it is closely tied to BTC action, isn't it?
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As crypto market matures, a lot of it would be subject to automated trading and algorithms. As it is right now, it's still a very news-sensitive market and very easy to manipulate (for various reasons). But I do weigh in a certain TA factor to the price movement. Not as much as it is in FOREX or stocks, but a certain part of the trends can be sketched with TA.
I'm not saying TA is the answer, I'm saying TA can successfully supplement other indicators (like news, team development information, etc).
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I've definitely seen the 'pump and dump' manipulation happen a few times now (I'm pretty new to the scene), so I definitely believe that things are very news sensitive.
Good clarification -- and I think the term supplement is something that more people should pay attention to -- so thanks for that. There's a lot of TA charts on here that don't have anything attached with them. It's nice to see someone that has done their homework.
Speaking of homework -- I suppose I should learn a little bit about the theory behind TA before I dismiss it too much, because quite a few people do claim that it has validity.
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HuBoi listing, that's all this is.
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Coming next is SMT.
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I'm feeling good we are back up around $4... that's encouraging
peace
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All the way to the Moon!
But for the moment it will be great if soon will reach $10 and it will stay there.
Will see what the market will say!
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I think everything is right on the brink right now it seems to be holding steady and just waiting for a major break out.
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Lets see but its looking promising! I can see the price doubling in the next few months.
But as you said who knows in the world of crypto - we could wake up tommorow in crisis 🤔
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In crypto everything is possible. Why do you think it would be possible to predict the Steem price via TA?
That one sentence in your post seem to say it all. There can happen so many things that most likely TA will not be usable for crypto. Or is there any scientific prove for it?
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TA can supplement other indicators (news, development information, etc). It can't predict, but it's an increasingly reliable indicator. That's why crossing that trendline is important, for me.
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I agree that crossing the trend line means something. I think of you look at the normal stock markets, you could earn money if you always follow a trend line. But in case of Crypto I really wonder if there is any predictive value? And even if it had a predictive value, how often will that be demolished by bad or good news?
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Wow, moving into the top ten would be huge for all of us. We can expect more activity on Steemit, that's for sure.
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Top ten is optimistic, we would need to see a significant jump to propel Steem that far up.
I read somewhere there was a delay on the Huobi Pro listing. Not sure how this is impacting it, but I'm happy that my largest holding is up by 100% in the last few weeks.
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Oh no! Not the trend line!
What did that trend line ever do to deserve such treatment?
R.I.P. trend line :'(
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:))
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To me, we are already on a clear untrend channel according to the daily chart.
Same channel on the Steem/BTC daily chart
PS: Sorry, posted the comment on the other post :)
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Great analysis and effective prediction ... We saw it @dragosroua
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STEEM going to the $10. My prediction for the end of the year was $20 and it did not change.
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Very good analysis friend, you seem to be that the steem has many ups and downs but if we run with luck everything will improve, but well everything is possible in this world
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Good analysis @dragosroua :), but it may also hit the 0.0005 mark and go back down...which software are you using for analysis?
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Things have been pretty zig-zaggy for the last little bit, but STEEM does seem to be trending upward. Some markets like it better than others, but as of right now, four hours after your post, STEEM is back over $4 USD again. And SBD continues to trail behind it at around 50 cents USD less.
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@dragosroua I just want to be with WINNERS !!
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SMT will pump it hard, in fact, it is the only reason why steem will surpass it ATH.
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I think it's time for relative stability. My thoughts are that it will go up and down close to the current value for sometime now. Or will it go higher ?
What are your thoughts ?
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more breakout expected lets see how it goes
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man - i love you - bro
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thanks for information
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Hi @dragosroua,
can you check your witness node? The last price feed update is 7 days old.
By the way, there is an important update, you should update your node to 19.3. Thanks.
Can you also take a look on your site? There is a bug and the Market is not updated anymore.
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Things are taking shape in steem blockchain and we will be heading towards 10$ mark very soon.
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