March 12 2019
Current Price $0.53
.60 Resistance
.33 Support
Macro Daily Bullish Descending Wedge.
Long Downtrend pressure going back to September of last year.
Recent Uptrend Recovery from Bearish Crypto WInter Lows.
However, Bulls have overperformed. Oscillators are overbought. Price extended beyond the Bullish channel.
What's next? I dunno. Maybe a range between 60 and 30 cents for a while. Or pressure builds in the descending wedge and a bullish breakout to the upside targets of $0.88.
Final thoughts. No expectations. It's just something to keep an eye on. Steem Back Dollars continue to stay close to dollar parity. Steem however doesn't appear ready to do more than range for a while. If one is thinking of cashing in to pay bills, now might not be a bad time unless one is convinced price will continue it's multi day bull run another 30%.
Current Price $0.53
.60 Resistance
.33 Support
Macro Daily Bullish Descending Wedge.
Long Downtrend pressure going back to September of last year.
Recent Uptrend Recovery from Bearish Crypto WInter Lows.
However, Bulls have overperformed. Oscillators are overbought. Price extended beyond the Bullish channel.
What's next? I dunno. Maybe a range between 60 and 30 cents for a while. Or pressure builds in the descending wedge and a bullish breakout to the upside targets of $0.88.
Final thoughts. No expectations. It's just something to keep an eye on. Steem Back Dollars continue to stay close to dollar parity. Steem however doesn't appear ready to do more than range for a while. If one is thinking of cashing in to pay bills, now might not be a bad time unless one is convinced price will continue it's multi day bull run another 30%.