STEEM/USD broken 50 EMA: What's next

Hello Steemians! We have broken 4.5 level at STEEM/USD. This is not good news, but compared to many other cryptocurrencies STEEM is still doing okay. BTC is holding $8K by fingernails, so there is still hope. Here is the look at the daily chart:

So where do we go from here? This is defined by the two support lines I have drawn in red on the daily chart above. Currently we are holding 3.5 level, which is the low for yesterday. This is a weak support on this chart. However, 8K level is a good support for the BTC. If we hold that level on BTC, it is likely that the current 3.5 level for STEEM will hold. If it doesn't then there is support at the 2.5 level on STEEM/USD defined by several lows in December.

It is important to keep this fact in mind that just little more than a months ago STEEM was at 2.5 level! That's how steep was the early January rally, which propelled STEEM to 2.5 level to 8.5 level in 4 trading days.