STEEM/BTC - Having trouble at key resistances.

The Steem community has a lot to be excited for lately with the news of finishing first in the netcoins listing, but unfortunately the price is not responding to that at all:

At a quick look on the daily, we clearly see the down-sloping price action right beneath the 75% fib retracement channel level and struggling to break it. There isn't any volume popping up anywhere so I'm not surprised it isn't breaking any overhead resistance. We are also below the 20MA and the 50MA. Tough to look at when these areas should be holding the price up on the daily, not using it as resistance. It just looks overall very weak. You would expect at least some kind of positive momentum following the netcoins listing, but clearly the market looks asleep.

I have a few levels of support shown that may serve to be more important in the future if the price action continues. Our diagonal dotted trend line and the bottom of the fib channel. Unfortunately, both of these support levels are down-sloping, so the longer we continue the current trend the lower price levels we will see. If we want to be bullish Steem we MUST get over the 75% fib channel resistance level and then break the horizontal trend line at 1500 SATS. That will break previous swing highs, break key resistances, and also break your moving averages. Thats being very optimistic the way the chart looks right now. It will take a lot of volume, which we're not seeing right now.

Looking forward, I'm currently a huge believer in the future of Steem but not with the price currently. Hopefully we start seeing some buyers to change the trend which we can clearly see is down. We are moving more sideways than in the past so thats not too bad. It's a little early to say we're rounding a bottom because it's very early on in the trend, but we could be starting that theory. We'll take a look in a few days what the price action looks like. Right now, there's nothing too exciting going on in price, just as most of the general crypto market is showing as well.

Good luck!