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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #19 "It's gettin' hot in here!" Aug 18, 2016

in #steem8 years ago

COMMENT
The aggressive spike and the continuance of the uptrend after it, rather then a reverse back down, is a good trend reversal indication, yesterday a higher low today a nice aggressive spike with double the volume what we saw for some days now. The next few days should tell allot, if the price keeps making higher lows we can definitely assume the bottom was touched and the trend reversed.
Although I'm very positive about a trend reversal, I am not 100% sure we will start see mooning just yet, IMHO the price will be climbing slowly and steadily with a possibly long accumulation period stretching through several price levels.

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