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RE: STEEM LIKELY TO FALL BELOW PURPLE CHANNEL AGAIN
When it is above the “purple channel” it means the relative strength index is showing over bought...it always goes downnfrm there...often the middle Bolinger Band acts as resistance on the way down. When it is below the “purple channel it is over sold and always goes up from there...resistance still shows at the middle BB in your timeframe without considerable momentum .
=) my purple channel refer to the chart not RSI. thanks for dropping a note @n8wray