[Steem] [Cryptocurrency Report #6] - 'Where Bitcoin goes, we follow...'
To the support line again...
Hello fellow Steemians. Unfortunately, I don't have great news for all of us, again.. It looks like we've broken the support at 2$ mentioned yesterday and now we're heading down straight to the resistance line at 1.80$ (situation marked by the red arrow). Take a look at the chart:
Steem has broken the support at 2.03$ (cyan line on the graph) and is heading to the support line at 1.80$ (orange line on the graph), sitting right now at about 1.90$. That downtrend that we've seen is probably strengthened by poor BTC performance that we've noticed today (picture below):
Is there any room for improvment?
If we hang around somewhere that 1.80$ mark and BTC situation won't change - we might be in threat of falling even more. However, this might be another great opportunity to BUY CHEAP. We will see how the situation will change in the following days.
Currently there is nothing groundbreaking happening to either Steem or BTC and I think that we still need more time for it to stabilise and recover. I'm still getting my hopes up for some bullish trends happening mid-April. Am I right? - I guess we will have to wait to find out :)
DISCLAIMER
All the above statements are my private thoughts on the topic of cryptocurrency, market and investing. Do not use them to make any investing decisions. The author does not take any responsibility for your actions.
Always think twice while investing - it's your hard earned money and you have to be aware that you're taking the risk and might lose them! That's why you should never invest more than what you're fine to lose.
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