Steem and SBD update!

I have been incredibly busy over the last few days and haven't been able to keep up with steemit or the cryptocurrency market. I have more content in the works, but have put it on hold for the time being! Hopefully I will have more time to post over the next couple days! Here is an update of the current Steem and SBD's market!

Steem is unfortunately looking very weak. After forming a beautiful uptrend, the price broke down from its consolidation pattern and broke the trend lower. After bouncing, it failed to break back above the uptrend line. It seems the trend line is now a resistance level. Since we have formed a lower high, I would expect Steem to fall back to the low it set on January 23 at about $3.75. If Steem can't find its footing and break through the recent high, there may be significant downside from here.

SBD's have been fading lower for the last week or so, and can't seem to find any support. I would expect the price of SBD's to continue to decline in this downtrend, and retest its lows at $3. This represents significant downside from here, and holders should be cautious. SBD's have already broken through every resistance level until the $3 mark, so the price is looking extremely bearish.

Thank you for reading! :) Hopefully Steem and SBD's can break these negative setups and move higher, but for the meantime I would recommend being very cautious buying either.