Steem has been going up and down this week, not in big bursts, it hasn't moved much more than a small percentage and a small amount of cents, but it has been moving so I think we could be seeing manipulation of this coin, some person or group of persons are pushing the price their way.
I hope they would push it way up into the above one dollar level then we could be seeing something positive in this market, of course despite what people do with an individual coin most prices are tied with BTC so in the end we still depend on how BTC does.
But I really want to talk about technical analysis and if it is any good. Frankly I don't think that TA gives anyone a chance of working it out as to how a coin will react, you see I don't really believe these support and resistance levels are any indication of what the market will do. Markets are moved by what the really big investors decide and they don't care about resistance or support they buy and sell according to how they want to manipulate the market so trying to guess the future with resistance and support is like using a horoscope it might work sometimes, but most probably out of sheer luck.
And do you want to see proof? Well here it is. Why aren't these Technical Analysis gurus immensely wealthy? Probably because their advice isn't that good. How do I know they aren't wealthy? Well, I really don't think a person who really knows what he is doing would be posting his or her Technical Analysis on Steemit. If they like posting about TA they would probably have a subscription site with their analysis and would be charging for it, why give their knowledge away?
