1. Structure has changed to be bearish, as recent highs could not break the last high at all. 2. Immense bullish strength is needed to correct, for hourly, 4 hourly and daily! Possible support @ 0.75360, resistance @ 0.75831. Breaking these levels will give us a better idea of who is in control. Will update in 2 hours time :)
STEEM/BTC is looking good for a long position based on daily and hourly pennant. Will head to 100k based on previous move and could move further up depending on where the breakout occurs. I am long on this at about 81k. I think there is a good 20% to be made here. Stay focused and trade to trade well.
Hello traders, If we have a double bottom at this level, I will looking for a reason for going bullish. Notice this double bottom would be at major structure support and we have a RSI oversold. For agressive traders, you could enter after close of bullish candle. For more conservative traders, you could wait for a 2618 formation to enter bullish. Hope this helps !
A bearish flag would show a downside move. Last time to touch the upper trendline, and in the best case scenario, it would break out of the flag. Might show some difficulty crossing the .382 level of the daily structure, and this flag could also result in being the last downside movement of the daily structure. I'd enter around 120.43 *The SL and TP might not be ...
When you see that kind of pattern where a big candle hits a support zone and multiple candles test it without success, it's wise go against it. MACD has started turning. There's a good possibility that the market will go beyong the 49,50~ price, you'd have to determine how strong the market is at that point.