STEEM Technical Analysis: Critical Point Reached...A Decision Must Be Made
STEEM is reaching a critical point. It’s sitting right below a descending resistance line that’s been in place since April. It’s also right above a very strong support/demand zone (between $0.82-$0.74) that’s been in place since May of 2017. One of these are going to likely break in the next 24-48hours.
Looking at the 1 day RSI, we’re seeing slight bullish divergence.
The 4 hour RSI has developed an ascending resistance this past week. A break above may signify a bullish shift in momentum.
In today’s video analysis, I discuss short and longterm price movement, where I’m considering buying and selling, scenarios to watch for and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.
BIAS:
Short Term: Slightly Bullish
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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by Workin2005
