Price action on Steem has us snaking along the rising pivot line. The pace of cross-overs is quickening and most of the action is below the pivot. So what does this mean and where do we go next? Based on price action we are about to exit this formation and project higher.
Drilling down to a 3m chart the market internals are still fairly quiet and the indicator for the big move up will be the absence of big red selling bars. In terms of trade rhythm the next move should be the big one, but we shall see. It will all depend on the sellers, not so much the buyers.