🐒 Watching for the Golden Cross chart pattern for Steem.
What is a 'Golden Cross'
The golden cross is a bullish breakout pattern formed from a crossover involving a security's ( or Cryptocurrency ) short-term moving average (such as the 50-day moving average) breaking above its long-term moving average (such as 100-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.
Read more: Golden Cross http://www.investopedia.com/terms/g/goldencross.asp#ixzz4qhZSNYLA
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Below : STEEM PRICE
BLUE LINE : = 100 day Simple Moving Average of the price of Steem
RED LINE : = 50 day Simple Moving Average of the price of Steem
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Below : USD $$ DOLLAR VOLUME OF STEEM TRADED
BLUE LINE : = 100 DAY MOVING AVERAGE DAILY USD $$ DOLLAR VOLUME OF STEEM TRADED
RED LINE : = 50 DAY MOVING AVERAGE DAILY USD $$ DOLLAR VOLUME OF STEEM TRADED
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SUMMARY
🐒 The SMA 50 is below the SMA 100 on both charts .
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