STEEM
I look at the weekly chart to analyze the trend, look at the daily chart to make decision on entering or not and look at 5H to decide when to enter (if that's my decision)
weekly chart shows a very strong down-trend is set to re-consider its direction at the point $1.6471
both resistance levels shown in chart, contradicts each other soon at that level.
The 1D chart confirms a contradiction in support and resistance levels is to happen, but it speculates a bit further fall and then decide whether to rocket up or continue falling.
At 5H chart you see the boring channel ($2.2 to $2.64) has definitely ended due to downtrend in weekly chart.
This chart also shows the point of contradiction is definite, and it will be below $1.5
My Conclusion and decision:
I will buy some steem at this level (what is SOME?*) and if it breaks the lows to new levels below, I will buy some at another bottom low.
if the trend changed to upward, I will buy again below $2.2 and at $2.6 I will again analyze the market whether to sell or to hold.
- some means a money you don't mind to lose 70% of it. it won't change your entire life, but it IS your hard earned money. I haven't earned any easy money in my life, but I know I have to take risks to earn more.
another word:
tell me a bit about yourself! newbie to ANY kind of investment?! I'm investing in STOCKS & FOREX for two decades and now I've added cryptos to my portfolio, to make my assets work better and don't miss the everyday changing world's trends.
So, if you are a millennial or new to speculative markets, I understand your fears; but I have many stories to tell you, which this is not the place; just one word: I have made my life out of such challenging ecosystem, so many others did.
thanks for reading :)