Hi steemians,
Just thought I'd make a quick post because STEEM may be having a small break upwards right now.
As a trader I wanted to show the charts I'm looking at.
This chart shows the 1 day MACD on poloniex. I've put a red arrow to show where it changed from red to green before, and another arrow because it looks (to me) like there's a chance it could be changing from red to green soon - but only time will tell.
Note however that all the other traders out there look for these signs too(!), and so will often buy 'before' they think there's going to be a change over - and when it actually changes from red to green, you may have missed the best opportunity. In fact, it could be time to sell once the change over occurs, if the upswing stalls at that point.
Disclaimer: I just bought a bit more STEEM so I completely don't want to suggest people buy STEEM (because I've just bought some, and I could decide to sell soon after posting this). Instead, I just wanted to post the charts that I look at in case anyone is interested. Also, of course it's nice for everyone involved if the price of STEEM goes up rather than down!
Here's another picture which is the buy/sell graph on poloniex. I've been watching this for a while, and the buy side seems a bit healthier today. (However these charts change all the time, so tomorrow it could be unhealthier again!)
Finally, here's the graph from coinmarketcap:
I've circled the recent activity which shows it's been flat for a while, but now shows what could be the start of an upswing; or it might not be. Only time will tell. It also show a recent 'higher low', which is something I normally look for, as a positive signal.
Disclaimer: This is not trading advice.
I made this post just for interest, and discussion, and not for any advice for buying and selling.
Please let me know what you think?
Also, I'd be very interested if people have advice on the best way to present this type of stuff without suggesting buying/selling.
Or whether posting this type of stuff is interesting or appropriate? Thanks!