Yesterday if you followed the DGD trade we made a great return on a one day trade and it looks like the majority of the cryptos are falling like we suspected DGD would do after hitting that high yesterday. Today Steem looks like there might be a trade later today as it has broken out of it's 4 day bearish trend and has pulled back creating a small channel. This is an extremely bullish pattern and I am waiting for a breakout of this pattern to the upside before entering my trade.
There is a chance that we are seeing a continuation of our previous bearish trend in which case you must place your stops at the $2.11 range. Overall I don't believe our bearish trend is over however, I do think we are going to see a sizable corrective ABC pattern emerge before our final push downward on Steem to test a previous low.
Have a good day and better one trading!