SteemBTC : Sell Signal?
Aggiornato
Hi there,
Steem/BTC witnessed a good increase in price in the last hours.
But Steem is now struggling around 58k. It may be a really good time to sell a portion of our steem holdings.
Indeed several factors tends to indicate we may have temporarly got to the top :
- We have hit the previous Top that occured in the beggining of this year (Fib resistance 1) at 58k
- Using my custom "Boundaries" indicator we have reach the first level of resistance from this indicator (orange line) : usually most coins don't pass this orange line except if there is a really strong rally (that's why you only sell a portion of your holding not all in case you break this one)
- On my multitool indicator, the red curve that sum up the score from multi time frame indicator, has touched the sell level.
- The MACD is also above the Sell Level and crossed.
- The godmode indicator is also above the sell level and crossed.
Steem/BTC witnessed a good increase in price in the last hours.
But Steem is now struggling around 58k. It may be a really good time to sell a portion of our steem holdings.
Indeed several factors tends to indicate we may have temporarly got to the top :
- We have hit the previous Top that occured in the beggining of this year (Fib resistance 1) at 58k
- Using my custom "Boundaries" indicator we have reach the first level of resistance from this indicator (orange line) : usually most coins don't pass this orange line except if there is a really strong rally (that's why you only sell a portion of your holding not all in case you break this one)
- On my multitool indicator, the red curve that sum up the score from multi time frame indicator, has touched the sell level.
- The MACD is also above the Sell Level and crossed.
- The godmode indicator is also above the sell level and crossed.
Nota
Steem Bounced on the 58K Fib and on the orange boundarie indicator and touched the 52k Fib.
The indicators start to cool off a little. Next movement will surely depend on what happen with BTCUSD.
Will keep you updated
Nota
Here are some updates on steem.
In the last day, BTC broke its triangle upward and therefore as expected Steem has gone lower.
Steem is now inside a descending channel represented in two parallel black lines.
Currently, Steem is on an intermediate fib level 48.8k.
It's not yet the time to re-enter into steem, I will update when I find a good opportunity.
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