Weiss just showed ratings of cryptocurrencies. Looks like new ways to pump and dump cryptos.
For Steem we have symmetrical triangle.
In case of breakout in upward direction we have few nice targets:
0.0005192 0.0006054 0.0007149 0.0008541
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breakout of triangle in upward direction:
targets:
0.0005192 0.0006054 0.0007149 0.0008541
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targets:
0.0005192 DONE! 0.0006054 Active for join! 0.0007149 0.0008541
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In next few hours we will see price retracement to resistance line of triangle, to test it as a new support, check the chart arrows, and prices:
This is good opportunity to fix our profits and make a rebuy for next targets
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Steem retracing to rebuy levels:
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Touched support line, good for build your long position on steem. On other hand we have nervous cryptomarket, so be careful, and place the stop loss under support line. good luck;)
The break out wont last for long, EVERY SINGLE chart that has a potential break out the last days gets shutdown sooner or later. RSI at 86!! Of course it will keep going up! Target one is a huge wick with decline of higher prices.
If Bitcoin wont go bullish dont expect the past year gains. The game has changed. Accept it and adapt sooner than later.
nectarsector7
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@Acel, what do you mean by dont expect the past years gains? And the game has changed too ? Im new to crypto, was just about to put a little money into my steemit account until coming across yoyr pos. Any advice?
Acel
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@nectarsector7, Bitcoin Futures contracts will manipulate the whole crypto sooner or later ( either going up or down ).
Last week we saw a huge nose dive because of that. Ok, maybe that was not the only reason, but dont tell me it was JUST a coincidence...
This Friday, another contract ends and Bitcoin is in the exact same spot! Its forming again a bull flag which will lead to a bull TRAP.
Check the chart and go back 7-9 days and see what happened before the nose dove. It will break out soon but a sell off will begin, or better yet let it go a little higher for distraction and then dive again.
Of course, we may see the past year gains, but that may be days or months ahead of now.
ArShevelev
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@Acel, you have to place IMO after words "...btc wont go bullish..." ;)
Acel
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@a.shevelev002, i said "if". I hope it goes long for the whole market to go long. But if you think that altcoins will keep rising while Bitcoin walks sideways im afraid that I have to bring you back to the ground because on your way to the moon you lost some oxygen, which is essential for the brain to function.
Dont get me wrong, i like your TAs but be more realistic !! Those are targets for a bull market and right now, we are correcting.
And ofc "IMO" is there, im NOT a fortune teller, im NOT visiting you from the future and i know what will happen, i just state my opinion. Till now, only the XLM breakout seems optimistic, but for how long??
A simple visit on coinmarketcap will make you realize that there is no new money coming in. How will a market grown when the same or less money circulate?? I would save you a few clicks. Zoom in on 1m on Total Market Capitalization.
@Ravenev, better be wrong, you learn more than being right. Lets see if it will going up, because all i see is hesitation.
But thanks for the "survivor bias". Saying that i was wrong on a Steem idea about Bitcoin, while i got the Steem one correct till now.
Where are all those people saying that i was wrong about Steem and it was not hype but "reading the chart" ?
Oh i know where they are, they will appear in 1-2 months and say " and you were wrong " .
Acel
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@Ravenev, are you still not entertained my friend? Watch it drop between 7k - 8k.
"JUST HODL !" Or are you gonna panic sell? The choise is yours.
Ravenev
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@Acel yup, we are still correcting but i'm extremaly bullish on entire cryptosphere
hodling & buying more
If Bitcoin wont go bullish dont expect the past year gains. The game has changed. Accept it and adapt sooner than later.