We had a cross on the daily moving average yesterday.
This is a bearish signal that the price will continue downward in the short term.
It would appear that we've reached an end to the short term positive uptrend that we just experienced a few weeks ago.
Here is the chart I'm watching.
As you can see we had a cross on the 13 day and 34 day moving averages.
Next I took a look at the weekly chart.
Things look about the same as a few weeks ago.
We still have not seen a cross on the weekly charts so for the long term things are still looking bearish.
On the bright side, this may be a good time to acquire more STEEM at low prices.
This is not financial advise. Please do your own research.
