Hello guys,
today we update the analysis on STEEM.
On the previous post we wrote:
"On this chart is represents the spread STEEM/BTC (time frame hourly). The spread is in a bearish channel and the price sould collapse to 0.004 (the lower band). The bullish signal is only if moving averages cross each other and the ribbon will invert."
...Look what happen:
The price went down to the target @0.004, not far from the lower band. So... it's possible that the bearish market is over and in the next days we could see an uptrend. In this case the targets are: 0.0046 and 0.0049
We also look at 4 hour chart & standard oscillator...
All oscillators are oversold and confirm the chance for a new bullish market. Obviuosly we have to update in the next days... The market is the king... We're only a traders...
Have a good day & trading
;)