Technical analysis on Steem for the Long run! #PricePredcition #Bartcardi
Hello followers,
Today i will be showing my view on steem price and giving you a basic TA to start your own journey or follow mine!
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Steem chart on 29 january of 2018 (Source)
So unlike alot of people i am going to explain to you what i did on this chart and what i am looking at. So obviously i want to predict where steem is going and make money. Just like most people. I am an investor in steem but also a trader so let me walk you through this TA. You are here looking at the daily chart, because i am looking at a long term view for steem.
The black lines are where the support is. So this means because of past history of not dropping lower then this price or bouncing on this price u will have support. So the price will have a hard time dropping below these support lines. As you can see steem has a two black lines (support lines) close to the price. This means steem will not probably not drop alot in the upcoming weeks.
The blue lines are where the resistance is. So this means because of past history of having a hard time breaking those prices u will find resistance. Always be on the lookout for prices that are breaking a resistance line (But next time more about that). If steem could break his first resistance it will probably shoot up. Until the next resistance blocks it obviously.
Indicators
So i am also using three indicators here. The Macd, Moving average and ADI (More info about these). If you look at the ADI you can see that there isn't a strong or weak trend. The moving average is just excatly moving on top of the candles and the macd is bit bullish but no real indication.
Conclusion
Steemit will be steady for a long term investment right now. I don't see real indicators for a break-out or a break-down. So steem will probably move around in between my first support and resistance line. Still i consider steem a good long term investment, because of the fundamentals.
Disclaimer: not financial advice
Author: Bartcardi
A follow, comment, upvote and resteem rare highly appreciated!
Stability is what I like to see with Steem/SBD (and any other cryptos). People always tend to only want to see break outs ... but those always aren't sustainable. I'm liking that Steem and SBD prices have managed to stay at their current levels without dropping or increasing so much so quickly
Well said, because everyone a coin goes up alot it drops back down for 50% or more. Hope steem/sbd can gradually grow would be the best.
Ine one of the post on steem price prediction and other aspects analysis by none other than @jerrybanfield, he predicts $10 price of steem in coming months and then he won't be surprised to see the price shooting towards $100 mark? What's your take on that buddy?
Thats a good one, @jerrybanfield is the person who got me into steem so much love and respect to him. But jerry is really postive about steem because of the fundamentals of steem. So he doesn't look at these charts that much he believes the concept steem is so good that it will sky rocket. I agree with jerry on this but maybe his price prediction is a bit to postive. But $10 in the upcoming months is possible!
There was a dtube interview with witness @aggroed recently in which he expected that steem wouldbe at $50 by year end. Now I like this Jerry Banfield guy, he's a very genuine nice bloke Id also suggest he was talking with passion and love as opposed to cold hard analysis !
What is good though is that these people truly believe in the ecosystem and thats got to be worth a point or two upwards.
Yeah definetly. Its also that the creator of steem is now working on EOS. So there is not a steem team thats is doing the marketing of steem so we users should do that. And those guys are doing a hell of a job!
Steem hit trend line support and has bounced nicely. Seems like there's alot of momentum behind steem, BTFD!
Excatly mate. Just glad it bounced!
good information keep it up
Happy to say steem excatly bounced on my support line :)
yes
Hallelujah! A real trader who explains clearly and simply to idiots like me what we're looking at. Thank you. I'm so sick of 'wannabe cleverdicks' on this platform just posting a chart without explaining anything. (due to the fact they have no idea themselves).
For what its worth mate, you just got an upvote, resteem and follow.
I use this site to learn more than anything so thank you.
Will now spend the rest of the afternoon trawling your back catalogue :-)
Best wishes to you.
Thanks great to hear mate. Doing this for people like you who are also tired of those "wannabe smart traders" and very happy to help!
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good analysis, do you think that steem will reach $20 by the end of 2018?
definitely!
yes but nobody knows!
Thank you for really explaining these in layman terms... Now I fully understand and I am less worried about my investment in Steem.
Thank you @bitcardi
Nice bro
Great analyses and at the right time .