STEEM Chart Analysis - 24JUN17

Note: I'm far from a good trader... hell, I wouldn't even say I'm above average. I rarely go with my gut (which is more often right) and have traded on emotion far too many times.

All of that being said, I took a peek at the STEEM/BTC chart today and was pretty impressed by how healthy it looks. Strong rises, followed by solid pullbacks from profit-taking; nice rhythm. It even has a heartbeat of sorts. Consistently higher-highs and higher-lows for the past three months.

Given that and the growing interest in the platform, rapid increase in accounts, and general mainstream discussions of bitcoin and blockchain technology, this again looks impressive.

I wouldn't recommend selling your spouse or children into slavery to buy more, however... unless they're cool with it.


This is a chart with 4-hour wide bars going back to mid-March, around the time the reversal from all-time lows occurred. For a larger picture with greater detail, click here.


steemJune24.png

Based on the amount of accounts that have stopped powering down, I'm rather bullish about the short, medium, and long term future of STEEM. Keep hustling folks!

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