Well, I am a bit late by few hours though as my weekly analysis was supposed to be out 5-6 hours ago. I hope you guys had a splendid weekend, and why not? if you have such a great opportunity of steemit, then why you'd not enjoy, right? hehe, its no genius stuff, it was a no-brainer ;)

In my last episode, I talked about maximizing more ways and suggested a few things to whales. I also included that I'm not sure of consequences, so I preferred to throw my suggestions to big and better heads than mine.

I read the latest post of Hive account@dantheman where he talked about 104 weeks power down period. He made an awesome point, although it was there from the first day of steemit but I didn't get that point before, that you can expect a steady volume in sbd exchange because we all are forced to cash out our SP slowly and steadily. Even if price touches to sky, whales will stick there.

Its pretty awkward if I say that I didn't get that point before, but well, I do not shy and once I got that concept, I started to think on other possibilities and saw a big picture about steemit's and steem's future. Some people consider the post of Hive account@dantheman unnecessary but to me, it was a brilliant post which made me think outside the box. So, thank you Hive account@dantheman for clearing things up.

Anyways, I guess we need to come back to our topic. We will analyze the following:

• USD Index
• Bitcoin
• Steem
• Steem Dollar

Before we start, let me clear a fact that I'm not suggesting anyone to buy/sell any currency. These analysis are meant for educational purpose. Please do not take any action based on my saying only. Confirm things on your own and take responsibility.

USD Index:

In our last weekly episode, we discussed that if USD successfully break the support and result in bearish candle, then most likely it will go further down and same happened. Monday's candle was bearish and as a result, we saw a new on Tuesday's candle. But that's past. What's now? The main point is, USD again reversed to upside and this time, I am expecting a good steady recovery from USD. Look at the chart below:

Just like I drew an arrow pointing upwards, I expect to see USD rising again because there are few technical things like testing support level and then indicator's information, and further more, pink TL says it all that the price actually touched pink arrow, tried to take its strength and now rising upwards.

Conclusion: USD is expected to rise further.

Bitcoin:

Is there anything to say? Last week, we discussed very clearly that BTC was to move upside. I even made a TL to show an expected level, and fear not! I didn't remove that TL from my chart because it is now more important than before. But again, that's past, right? What about present and future? Well, techincally it looks like BTC is just about to reverse from pink TL. See screenshot below:

Most probably, BTC is expected to rise till 649 at most and then reverse again to downwards for at-least 600 level. That's because 600 is a strong psychological level and investors might rush on this whole and golden number. History says it all. 600 level was a good support level before, and history might repeat itself once again. Another reason of expected fall is current situation on USD index. Bitcoin is correlated with USD, so if USD will rise, BTC might go down. We already discussed about USD above, so if you didn't read, scroll up the page and read that part to make sure that you do not miss any of the point.

Conclusion: Well, It was clear enough above, but to sum up, BTC is expected to rise till 649 and then reverse back to 600.

Steem:

Some of you guys might be feeling sad specially if you're holding your steem, right? but worry not! because looks like steem already started to recover. Current situation of chart suggests that Steem already tested its strongest support level, showed some reaction which is giving a heads-up that steem will rise further within a week or two. Investors might start to invest big sum again which might cause steem to touch the sky once again.

But there is a thing! There are two support levels. Second support level at around 0.0008 is more stronger than support level of 0.001 due to past history but the fact is, 0.001 is a good psychological level, and that's why it holds unique importance.

Conclusion: Steem is highly expected to rise once again.

Steem Dollar:

Why not? We already discussed about USD, Bitcoin and Steem above, and I assume that it is not clear enough that steem dollar is also expected to rise. The main driving force of steem dollar is "steem" and "usd". SBD looks positively correlated with USD. As we expect USD to rise and BTC to fall, it means that it confirms our bias of possible uptrend.

Evidence of that bias is the chart itself. Price already started to struggle to break the trendline, and tested a strong support level. To be honest, I do not really expect SBD to fall but even if it does, then steem and sbd is all about long-term plans. Do not panic and wait patiently.

Conclusion: Uptrend is going to start from tomorrow and it is highly expected.

So, I really hope that you liked my analysis. I always do my best to present simple and effective charts in front of you to make my points more clearer. Of-course these are just predictions with the help of technical analysis. Being a pro trader having 5 years of trading experience, let me tell you that nothing is 100% accurate. My analysis may or may not work. Its all about price action. I check charts on daily basis because that's what I do. Keeping your eye-balls to chart for latest price-action is most important for timely decisions. Please do not rely on my analysis. It is just meant for educational purpose.

If you really enjoyed reading my analysis, please take your time to follow me at Hive account@princewahaj for more awesome content. Thank you very much for your support and love.