Steem seems to be in an ascending channel, facing resistance at the 20DMA level at 36.8k sats after bouncing off the 61.8fib support at 31.7k sats, currently its being supported by the 35k sat region which is the 50fib level of the move X-A and also 23.6fib of the B leg.
If #steembtc manages to break above the 20 DMA and subsequently the important resistance level at 39-40k sat region, then we can expect it to rally to 42.5-43k sats, before we see some correction.
If #steembtc manages to break above the 20 DMA and subsequently the important resistance level at 39-40k sat region, then we can expect it to rally to 42.5-43k sats, before we see some correction.
Note
#steem update- A bounce off the channel support.Note
#steem still looking great!! moving up in the ascending channel, when all other alts are going berserk, dealing with btc's mood swings.Note
#steem +33% up, almost 8% above the target of 42.5-43k sats.BC leg is now complete in this pattern,
Support level at 36.16ksats.
Re-entry ,after the price reversal is confirmed at D leg completion.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.