Steem( STEEM/BTC) Update 17/07/2017: Buy Now For Bounce Back!!!!!
Steem has created a double bottom in daily charts recently and one should consider Steem to buy now for bounce back play. It has given up 50% of its gain from 97k Satoshi and hit a 36K satoshi in its fall. Now it is trading at 48k satoshi.
Lets take a quick look on chart below to find out any opportunity for buy....
Today I just want you to concentrate just one thing on chart above i.e. DOUBLE BOTTOM, which i have highlighted in small blue circle. Those who are in trading well known to fact that when certain script hit certain support and failed to break that strong support two times, it become prime candidate for buy.
Now in Steem case, 39k satoshi is an important support, and bears tried two time to break that support but failed to break or sustain below that, so now one can look for buying opportunity in it. With that said i rest my analysis here.
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I agree...now is the time to buy Steem! The future looks bright!
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