STEEM/BTC Long on Poloniex, 60 min Chart. Triple bottom and bullish divergence. Time to buy!!

Hi Traders,

This is my analysis on the STEEM/BTC pair on the 60 min timeframe on poloniex.

The harmonic crab pattern has completed and RSI is in oversold territory, which are my number one signals to go long. This coupled with the triple bottom and bullish RSI divergence gives one many cases to open a long position.

The STEEM/BTC pair has been consolidating for quite sometime in sideways movement and now looks like it is time for a breakout to the upside.

Entry: 0.00331
Stop Loss: 0.00295
Target 1 (TP 1): 0.0052
Target 2 (TP 2): 0.0061
Bonus target: 0.00867

Here are some other traders on steemit in case you want to see other viewpoints and trading styles on the STEEM/BTC pair.

For the sideways scenario check out Hive account@quant01 here. https://steemit.com/steem/@quant01/steem-intraday-update

For the bearish scenario check out Hive account@najoh https://steemit.com/steem/@najoh/technical-analysis-steem-06-august-2016

For another view point check out Hive account@ozchartart https://steemit.com/steem/@ozchartart/usdsteem-btc-daily-poloniex-bittrex-technical-analysis-update-7-the-calm-before-the-storm-06-08-16

I hope you all enjoyed my trade analysis and feel free to ask any questions and comment. Remember to trade at your own risk and the number one rule of trading is to manage risk and protect your capital. Come find me at tradingview in the chat and feel free to look at my published charts here.
https://www.tradingview.com/u/domavila/#published-charts

Peace - domavila