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Bearish on STEEMHi, So my friend was considering investing in STEEM since he has heard a lot of chit chat of this going high. He asked me to chart it out and my opinion. I did some FA analysis and I like the idea and competition still pretty low at the minute. I was really worried about how active on social media they were. 1. They have been around a couple of years or so their website says. 2. They have had a twitter account since them which hasn't yet had any tweets even though has around 400 followers. Seems strange or lazy to me. 3. They have a second twitter to advertise a social media platform build on the top of steam (Advertised as - THE FIRST APP ON STEEM). 4. This app looks like it is build by them and I find no evidence of other apps (third party) using steem. 5. Also this social media app seems to be their main piece of news. On top of this I cant see a social network competing with what already exist (FB etc). 6. I also imagine FB are also looking at their own decentralized social media so heavy competition - in-fact I am sure I heard this on a podcast recently. So initial thoughts is it wouldn't be something I would invest in. So the chart. It seems most people are bullish on this. Personally I am not. From the looks of things I think the triangles / flags etc look bearish to me. Its pretty close but I think the potential lows are far bigger than the highs and probably not worth the risk. There is also a bearish channel I can see which also suggests slight decrease in price. On top of this everyone is waiting for see what happens with BTC. I think any upward action with BTC could drive this lower. Just my personal opinion which I hope I am wrong if people are already heavily invested in this. If you have some spare dolla i recommend investing in something else. I am quite bullish on XVG, XLM, ADA, TRON
Short
by davearmitage123
3
STEEM possible breakout? STEEM has recently broken it's downtrend caused by the BTC bullrun. This could be a chance for STEEM to bounce back. I'm anticipating some sideways movement for a few hours and then the signal. The MACD has crossed recently and the RSI is showing an uptrend with plenty of room for growth. All we require now is the volume to back it up. Anything from 200K and more volume on a green candle should be confirmation of a bullish movement and is our signal buy. Short-term targets based on Fibonacci: (1) 41450 (2) 45000 (3) 47855 (4) 50720 (5) 60000 (6) 66590 Lets see how far this goes. Disclaimer: These ideas are intended for my own educational purposes and serves are a learning experience. Any feedback welcome.
Long
by WhaiTuKay
1
Steem --> retracment and bounce on daily chartSince previous support has been broken like described on chart below I am providing analysis on a smaller time frame (based on previous triangle). If current high point stays the same for the day...we could see a bit of a pull-back down to 50.00 Fib (0.00039759) level where historical analysis shows possible support for another bounce. I have marked down also Potential FIB levels if bounce happens. Once we get through the 2.historical resistance we could see a touch @ 200% fib. level (0.00080103) which is at the same time 3. historical resistance before the top of previous triangle is reached. That would bring us to 100% gain if bounce happens. be aware also of BTC movements since it looks like interesting times are coming. Link to previous analysis as always let me know what you think also with comments if possible. brg Animus the great
Long
by AnimusTheGreat
Two chains break 1 million tx barrier, one could surprise you!Steem and Ethereum are the two first chains to break 1 million transactions barrier. Ethereum struggled, Steem didnt care. Fundamental So in my crypto-portfolio you can see I have held Steem Dollars . That has given me greater returns than Steem would have. Now I want to switch, but increase portfolio level. I feel Steem is giving me a better risk/reward situation. So what makes me like Steem? It has in my view (even though I havent used it) a great platform. If you check their stats you can see they currently have 334.25K users and have given out 22.7M in rewards. That's some good numbers. I would recommend to try it out: www.steemit.com I think the userbase will grow strongly with the record breaking numbers that are entering cryptospace. That should equal higher price. Steem could potentially change some of the ways we do social media. Technical BTC pairs arent my favorite, but what can you do. Though, I am liking my pitchfork and planning to use for some very quick daytrades. Besides that I am looking at the fib levels and have outlined where I think we can meet resistance. My target for this is between the 0.786 and 1 from recent downturn. 80-100k sat :)
Long
by Kryptokelly
33
STEEM Long-Term (Potential 400%+ profit)STEEM shows steady movement breaking the first resistance. The sky is the limit for this coin. MACD and RSI support upwards movement. Downtrend broken. First resistance cleared(only need confirmation). Potential profit is not 100% guaranteed to happen. But if the coin stays healthy without any negative news, most likely it will. I showed in the chart where the price might bounce back a little. If you want extra profit, trade those dips. But do so at your own risk. Reaching the profit goal may take a while! Be patient. If you will be satisfied with the profits, take them and move on, no need to be greedy. If you liked my chart, be sure to follow me. I will answer all questions as fast as i can. Good luck trading!
Long
by DreamBlood