Still a oversold bounce: Nothing more

Hello Steemians! There is now a 5-day worth of rally in place, and prices across the board are higher. Let us have a look at the BTC daily chart:

This 5-days oversold bounce (yes that's all this is until proven otherwise) put the prices above the 10-day EMA at BTC. That near term EMA is curling up as well, so that's all good. But 50 EMA is at 7100. Until prices cross that and we hold the first pull back, thereby making a higher low, I will say that an uptrend is in place. But we will cross that bridge when we get to it.

Steem:

Similar story in Steem. Prices are around 1.67 at the time of this writing. So again this is an oversold bounce that's all, until proven otherwise. 50 EMA here is around 2.0, which is also a psychologically important level, being a whole number. We are not out of the woods until we go above 2.0. I am still watching one bar at a time.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

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