Daily Steem Price Update: Yesterday We Closed Above Important Trendline by freeforever

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steem · @freeforever · Jan 7 '18

$8.11

Daily Steem Price Update: Yesterday We Closed Above Important Trendline

Yesterday Steem closed at $6,57 and is currently trading at $6,43. What is important here is that we closed above the supporting trendline as you can see from this chart:

![FireShot Capture 656 - STEEMUSD_ 6.38016330 ▼−2.99% —_ - https___www.tradingview.com_chart_AxIWekrr_.png](https://steemitimages.com/DQmU6wqJ938kfHxwH7972ArZrEHUsBe1AWybyWk4KwAiNcS/FireShot%20Capture%20656%20-%20STEEMUSD_%206.38016330%20%E2%96%BC%E2%88%922.99%25%20%E2%80%94_%20-%20https___www.tradingview.com_chart_AxIWekrr_.png)

Comment: A good sign is that we have now had daily hammer looking candlesticks for 2 days in a row. That could indicatete that we have found short term support. 

The next target for Steem is to close above yesterdays high, which is 7,35. Today is also the last day of the week so we want a weekly close above the mentioned trendline. 

Happy trading!

👍 redes, freeforever, antonburton, dragononcrypto, anonimnotoriu, darius1993, steembasicincome, bankholiday, stefanakis, ghyassine, qpattjr

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@antonburton · Jan 7 '18

$0.33

Interesting post @freeforever - I'm actually predicting a price of $13 in the next couple weeks. I've actually just posted about it now, in my recent episode of Crypto Nights. Would love to hear your thoughts on it!

Followed & up-voted
Anton

👍 freeforever, antonburton

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@freeforever · Jan 7 '18

Thanks man, I will listen to your upload. Regarding the price,$13 is certainly within reach, if we will end this week on a good note, that would be very bullish for the next week and so on.

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@lamela · Jan 7 '18

thank you brother for the information

👍 lamela, kigea

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@stefanakis · Jan 7 '18

$0.24

Hi there!
Although i am still a bit skeptical regarding technical analysis for AltCoins, i always keep an eye for posts like this.
Keep up the good work.
Cheers!

👍 freeforever

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@freeforever · Jan 7 '18

It is always good to be sceptical and as you say altcoins are much shakier since they depend heavily on the Bitcoin price for the most part. That is why it is important to ALWAYS, keep an eye on whats going on with the Bitcoin price. The correlation is usually very strong.

👍 stefanakis

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