It's not a good time to speculate on STEEM

in #steem • 8 years ago

Hello guys,
today we analyze the spread STEEM-BITCOIN (Exchange: Poloniex).

As you know the trend is bearish and any technical analysis suggests a reversal. (Previous post: https://steemit.com/steem/@quant01/steem-new-lows-and-now)

The first chart represents the spread on daily time frame. In this case the spread is strong bearish for the medium term and the target is @0.0015.

It's the same in the 4 hour-time frame chart:

Look at the ribbons... As you can see the yellow line (moving average) didn't cross the other lines. In other hands... no buy signal...

At the end... the 1 hour time-frame chart:

This chart is still in a bearish trend as the high-low configuration.

We think it's not a good time to speculate on this spread. The best strategy is to be flat and eventully looking for trading opportunities in some others crypto. Any suggest?

Best

#investment #trading #steemit #poloniex
8 years ago in #steem by
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     8 years ago (edited)

    Thanks for the warning. I'm now learning with Bitshares that you can't fight a falling market. The hard way :(

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       8 years ago 

      Hello nxblg,
      tnx for your post. We don't know Bitshares... We'll check it...

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         8 years ago 

        Do you know MADE SAFE COIN and FACTOM?

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