STEEM/BTC Daily Technical Analysis - 22 August 2016

Hi Steemers

Today Steem/btc chart looking very interesting. So here is my detailed technical analysis for today.

Checkout the chart below

BITTREX

 

Indicator Explanation :- 

Brown line is 200 Moving Average and blue line is 100 Moving Average. Bottom  Indicator is combination of Stochastic and RSI Indicator. 

 

Direction Explanation :-

 In 1 hour chart of STEEM/BTC on Bittrex , We can clearly see that 100 MA is below 200 MA and crossing of these lines happened 9 hours ago. From last 9 hours price is going down.

So it looks like price will go down.

But Stochastic Indicator is already oversold and now started to move so it means price already gone down too much and now its time to go up.

Price is at lowest point is last few days and here is it showing good support as price have bounced up many times from this level.

After joining the higher and lower level chances are price should go up now.

 

DISCLAIMER:-

The information contained herein is not guaranteed, and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is depending upon my personal opinion. I do not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.