Steem(STEEM/BTC) Update 28/07/2017: Fasten Your Seat belt For Another Touchdown!!!!!!
Steem has been breaking short term support levels on daily charts since its touched the resistance level of 63k satoshi. Their are six days of red candles on daily chart in which it has broken important support level of moving averages, upper trendline of falling channel, lower trendline of rising channel.
In short it is running in bearish mode, and one can see that easily on chart shown below.....
By looking at chart above one can clearly notice the bearishness in this script. Steem is currently at 45k Satsohi down almost 6%, but today's session is still ongoing, lets see how it ends.
But looking at chart above and the momentum in which steem is trading, its seems to touch 39K satoshi level, which is next recognizable support on charts. But if it close within rising channel, then one can expect consolidation not run up but that scenario seems less likely.
With That said I rest my analysis here. See you people with another update.
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Interesting, if only I had more money to invest
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