Hello guys,
today we update the analysis on the spread STEEM-BTC. This analysis is just for the short-term period... not more..
We use a 4h candlestick chart:
In the previous post we've identified a bearish channel for the short-term. The prices has respect this channel...
Now the strategy is changed...
The spread is trying to bounce from the support @0.0032. This support is a double low and in technical analysis this configuration is bullish.
The target can be @0.0038 and then @0.004.
On the following chart we insert some oscillators:
As you can see the first oscillator is bullish. In particular the MACD crosses the signal line.
On the other charts there're various divergences between prices and oscillators (look at the trendline in black).
These things support the bullish trend on the short term.
Best