I am looking for a Type 2 reaction here.
Looks like a nice triple bottom as formed too.
Stop Loss: 0.00305
Target 1: 0.0049
Target 2: 0.0059
In cryptocurrency trading , especially thin, illiquid markets like the STEEM/BTC pair I scale in and out of positions quite frequently and do not use exact stop losses. I would be insane to post my exact stop for everyone to see in a market this thin.
However, since I scale in and out of my crypto trades, I have been stopped out for about 15% of my position but I still have 85% left. Lets see if this level can hold and if the Steem bulls can push price higher.
I am currently looking at these two possible scenarios. A new harmonic pattern might have emerged! This gives me another possible bullish area (PRZ) to watch out for, now in the 0.029-0.0285 range. This area might be the last chance for the steem bulls before bear country takes over.
Please look below for further analysis on this pair.