Our friend here who is very sharp, had this to say on his TA charts today and a post on it (Technical Analysis) - His post came out a few hours after this blog post here of mine.

A major bullish signal happened today on the daily STEEM/BTC chart, one of the strongest bullish signals known to the market - a "golden cross" of the 50 simple moving average (SMA) over the 200 SMA. Of course, this is no guarantee that price will continue to climb and climb from here, but it is a statistically dependable indicator that the "momentum" of the market has turned to the upside.

My best guess would be that price corrects downward from this resistance zone and takes a few days to weeks to test the new support zone and/or keeps within a smaller price range until the 50 SMA catches up. Moving averages often act as strong supports to further price advancements.

The golden cross is considered one of the most reliable indicators of long, trending moves, but it's usually not a good "buy signal" in that price usually corrects a bit after the cross happens before it continues the move up. In other words, it's a signal to look for logical points of entry, such as a test of the 50 SMA or the support zone.

Follow @jamesbrown for good crypto advice too!