Steem VS Bitcoin Trying to Break Higher

Steem has tested the bottom on the 30th of June, where price hit 16.7k satoshis low. After that price went up sharply breaking above the downtrend trendline and reaching the high at 22.4k satoshis.

The upside move resulted in a 34% Gain against the Bitcoin , and it seemed that STEEM/BTC is about to break even higher. However, price has rejected the 200 moving average and corrected down to the 78.6% Fibonacci support at 17.9k satoshis.

Currently STEEM is stuck between the Moving Average and the 17.9k satoshis support. At this stage consolidation could continue as STEEM does not have any directional pattern at this moment. But at the same time break above the 22.4k satoshis could be the first sign of a potential trend reversal or a strong corrective move up.

On the other hand, if the Fibonacci support is broken, STEEM is likely to re-test the 16.7k low and perhaps go even lower. Although buying opportunity is very tempting, perhaps safer trading would suggest to wait for the resistance breakout.
Trade closed: target reached
some accumulation is going on with steem. Thanks
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out