STEEM LIKELY TO FALL BELOW PURPLE CHANNEL AGAIN
Yesterday bull came in and push the price above the purple channel top and manage to close above it. looks like buying the dip, possible wash and rinse pattern ongoing. Hit 3.27 resistance and fall back. steem tends to follow btc movement. Similarly on btc, looks like dip buying and bearish candle again.
Short term moving average : downtrend gap still wide
RSI : -
SBD/STEEM : 0.855
Weekly Timeframe : -
Disclaimer : This is not financial advice, it's all based on my personal biased opinion. Do your own research and put in the amount you can afford to lose.
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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
But then u r doing affiliate marketing u probably dont care about the accuracy of your findings