I logged onto SteemLeo today to write a post about the price action of Steem and it's future and came across this post I had started a week or so ago, and it's interesting that my prediction was decently accurate.
My Prediction a Week Ago
All of crypto has been performing well recently, but I have a feeling Steem is about to top the charts in % gains sooner rather than later and I can see one of the two scenarios playing out over the next few days to a week.
Scenario 1 is that we will see a break above the 2300 Satoshi resistance over the next few days with a short pump and then we will pull back to 2300 now support and continue to climb from there.
Scenario 2 will be that we will form an ascending triangle where over the next few weeks to a month we will continue to bounce off 2300 creating higher lows until we are able to breakthrough.
What Actually Happened
Well, we were able to break through the 2200 barrier and I think at least one of the next few days, Steem was actually one of the biggest % gainers on Coinmarketcap. However, 2300 Satoshi was not the support and it looks like 2200 Satoshi actually became the support.
I'm thinking the red box is all the price action that happened since I started to make my prediction a week ago, so for calling the large move up and then the retrace to 2300, Satoshi wasn't that bad. If you would have sold somewhere above 2300 and set buy orders back at 2300 for the retrace, you'd be sitting pretty right now as the price of Steem is back around 2300 Satoshi as of writing this.
If today's candle can close higher than yesterdays than that will form a bullish engulfing candle and could lead to another price run-up to around 2500 - 3000 Steem. I would like to see the price stay between 2200 and 2500 for the next couple of weeks to begin to build a new higher base for price action in the future.
Steem Upgrades the Past Week
If you've been sleeping under a rock there have been a ton of upgrades that have been announced or implemented within the past week. Some announcements that have been a long time in the making and it's nice to finally see them implemented.
SteemDevs
Some of my favorite communities that I'm looking forward to reading posts in, outside the top 5 or 10 communities, is
SteemDevs is number 8 I think currently when you're scrolling down the list of communities. It will be nice if all projects start posting announcements their for people to see as a 1 stop shop to the latest announcements and upgrades of different Steem projects.
With new people joining the platform every day it would be a nice spot to direct people so they can start learning about the different opportunities and projects that are coming to Steem as well as quickly get anyone up to date that has been gone for a while.
OpenSeed
I'm not very technical, but the more I learn about OpenSeed the more excited I get about the project and the future of Steem. The ability to have integrated chat on the Steemit/Steempeak platform and do not have to use discord anymore to message people is something I can get behind.
It is nice the "community accounts" will no longer be required when trying to organize a group of people. I always thought they were inefficient at spreading the news anyways.
It's nice to see I can see updates from multiple different people working on the project as well as the project account updates all in one place. Once OpenSeed is released I think this will be a great way for Steemians to leave feedback to the OpenSeed team as well as collaborate to begin building out projects using OpenSeed.
Blockchain Gaming
I'm always on the lookout for new projects, especially gaming on the blockchain, and this seems like a great place to see reviews of games I should check and maybe save me some time in games that others have played and letting me know it's probably not worth my time playing.
If you're not excited about what's happening on the blockchain, then I'm not sure what will make you happy.
Leave a comment down below on one of the most exciting announcements that have happened in the past couple of months.
Posted via Steemleo