CryptoKraze here
In this post I am going to cover technical analysis of Steem Dollar for Mid-Short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Steem Dollar.
Possibility on 30 Minute Chart
If you look at 30 minutes chart, you will see Steem Dollar has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and waits for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip to 50 level now, so we have a pull back done and next impulsive move is ready. If we look at bollinger bands, the price has touched upper bands and now it will reach median line and then break above.
- I have a buy entry at 0.00051000 with my profit target will be around 0.00070000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Have a look on my other Posts
SEI Rewards System for Members | Post of the Day Promotion |
InsurePal ICO Review | Distributed Social Proof Insurance with power of BlockChain Technology
Real Pound ICO | The Future of Assets in Real Estate combined with Blockchain Technology
Bitcoin Technical Insight by Crypto Kraze | We have started Journey to $24,000
Crypto Kraze Trading Results | $XDN Call has given more than 200% Profits
Crypto Kraze Trading Results | 200% Profit made on $Nexus Trade
Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
The 
Discord Channel