Crypto Bounce Continues!

Hello Steemians! We are currently holding the bounce on BTC, as of this writing BTC is just above $10K. We do not have the worry about that downtrend line or that downward sloping 10 EMA at the moment. BTC have started a new uptrend, with a new trendline. Here is a look at the daily:

There is a reason I used a dashed trendline. In my books uptrends are never confirmed until above near-term resistance, and/or multiple tests of the trendline. For a volatile instrument like BTC both tests are often hard to satisfy. But I do not like the hype. There is already a lot of hype in this space from people who barely know how to trade an instrument or read a chart. I am not going to be the one to add gasoline to the fire. Okay, with that out of the way; I am off my soapbox. The way I see it BTC trendline will remain dashed until we clear 50 EMA in a convincing manner.

Lets look at STEEM, shall we?

If I be neutral and objective (by the way, we should always try to be that while reading charts), this is a "nothing" chart. STEEM daily shows no conviction, one way or the other. We are struggling at 50 EMA, which is flat, and we have two red doji bars in a row at the moment. We also have no volume support. In this situation the price can go either way, and that's all I can say.

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.