I'm going to go ahead and say that STEEM is at a good entry point at the moment. There's a couple things that lead me to believe this:
1. The market has taken back over 80% of the high point (fib retrace).
2. The 30 day moving average is flattening out and looks like it will start sloping upward.
3. There seems to be a bottom line horizontal support for the price action. This combined with a resistance trend line creates a wedge that the price will have to break. The price will only have to break one resistance lone, while it would have to break two support lines (both horizontal and blue).
4. The MACD lines look as if they are about to cross the zero line upwards.
5. The RSI is dancing around the support line I created.
There is a lot going on in this chart right now, but I think it will be one of my better ones.
1. The market has taken back over 80% of the high point (fib retrace).
2. The 30 day moving average is flattening out and looks like it will start sloping upward.
3. There seems to be a bottom line horizontal support for the price action. This combined with a resistance trend line creates a wedge that the price will have to break. The price will only have to break one resistance lone, while it would have to break two support lines (both horizontal and blue).
4. The MACD lines look as if they are about to cross the zero line upwards.
5. The RSI is dancing around the support line I created.
There is a lot going on in this chart right now, but I think it will be one of my better ones.