STEEM and SBDs - Chart Updates!
STEEM Vs USD
I thought my triangle pattern from yesterday was going to be violated a little while ago, but it seems that I just needed to redraw it.
Hey, it happens!
An updated look of the STEEM/USD triangle pattern now appears to have the "E" put in, and I'm expecting - and hoping - that this will mean a breakout to higher STEEM prices.
The MACD for STEEM/USD is still somewhat choppy, but if the above is correct? I wouldn't be surprised to see it turn more bullish soon, and break above the 0 line:
STEEM Vs BTC
I thought that the resistance line we had been battling was about to get broken, but alas it hasn't quite been breached (yet?). Here's a quick look:
As you can see, it attempted to break the line, but fell back below it. It is currently trying to break out again, so things could be looking up from here!
On the other hand, if it is a triangle pattern, how about this?
If that is correct, then it is following a very similar path to the USD pairing, which should mean more upside here too!
The other reason for further upside is a bullish MACD:
SBD/USD
I'm still waiting for the "E" to happen in the SBD/USD pairing, and the MACD could be signalling that the prices will be heading towards the bottom of the triangle pattern soon:
It looks as though the MACD is about to turn bearish, which will hopefully see prices touching somewhere around the "E" area here:
If that happens, it should confirm the triangle pattern and SBDs will bounce up from there.
As always, I caution that I could be wrong! But, we'll see what happens.
Update Later
I might have to do an update on these later today, because the STEEM ones should be confirmed pretty soon, judging by how near the end of the patterns they are. SBDs will take a while longer to reach the end of that pattern.
Any more?
Seen any more cool STEEM or SBD price predictions today? Or any thoughts on the next move for either of the STEEM tokens? Leave me a comment if you've got time!
Thanks for viewing!
For more awesome technical analysis and crypto related posts, see also: @toofasteddie, @gazur, @ew-and-patterns, @pawsdog, @cryptomagic, @exxodus, @beiker, @allthereisislove, @lordoftruth, @masterthematrix, @cryptoheads, @tombort, and @maarnio
Not investment, financial, or trading advice & purely for entertainment purposes. Who doesn't love charts?