CryptoCubic

STEEM / BTC Range Trading Begins

HUOBI:STEEMBTC   Steem / Bitcoin
STEEM/BTC has just reached previous low, where it rejected the fibonacci support. From now it could be that price will start to consolidate for the time being, but only if support will hold.
The scenario where the support is broken can be seen on the chart, but while holds expect range trading or even reversal.

Based on my BTC precition (chart can be seen below), BTC/USD should also correct at this stage, leaving some room for growth to alts.
Comment:
Trade closed: target reached
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