STEEM keeps chugging along nicely.

Current Market Cap: $1.081B (+$128M in 3 days) STEEM Dominance 0.252% (-.006%)Current Rank: 26 (no change)

We have been riding the waves that Bitcoin is creating the past week. The entire market has recovered somewhat over the past few days but we still have some ground to make up since the correction. With market sentiments improving it may be possible for us to bounce back in the next month but it might be slow going.

We are patiently waiting for the next hype cycle.

Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.

Bollinger Bands show we are at the moving average right now.

Stochastics show normal ranges, but close to the oversold territory.

MACD shows both moving averages above the zero line and falling- a possible bearish trend.

Likely Scenarios:

• STEEM drops down to the 0.00047000 BTC ($4.15) zone before finding some support.
• Prices see a pop in volumes in the next 8 hours pushing us toward the 0.00050000 BTC ($4.40) mark.
• We bounce between 0.00047000 BTC ($4.15) and 0.00049000 BTC ($4.33) until we can break the resistance line.

TLDR Version:

STEEM prices are recovering nicely and has maintained its BTC price in the midst of rising dollar value. The price is mainly dependent on the success of BTC's recovery this week. Expect strong support above $4 (0.00045500 BTC) and resistance around $4.40 (0.00050000 BTC).

Price Target:

$ 4.55 (0.00051500 BTC)

Check Out Today's Bitcoin Price Forecast:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-9-2018

Check Out My Last STEEM Price Forecast:
https://steemit.com/steem/@hotsauceislethal/steem-price-forecast-2-6-2018

Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out

Don't Worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-finally-here

Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary

Like Bitcoin But Want To Avoid The Fees?
https://steemit.com/bitcoin/@hotsauceislethal/save-money-when-sending-crypto

Pay No Transaction Fee From Coinbase!!!
https://steemit.com/bitcoin/@hotsauceislethal/no-transaction-fee-bitcoin-trick-using-coinbase

Need A Good Laugh?
https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)