STEEM PRICE ACTION

STEMM is still has alot of upside momentum. Most of the alt-coins have already retested their all time highs. Steem is one of the top cryptos that hasn't done so. Its just bouncing off the lows with alot of upside potential. As can be seen by the WEEK chart below, this ship is just beginning to take off.

After having some explosive days off the lows, STEEM shot up all the way into a key level of resistance and thats where
it bounced off and an area that is outlined by the top of the bull channel(orange ascending vertical line, and the red horizontal line). At this point it may just be catching its breath, per se.

As type this there is big bear candle developing on the 4HR chart, which may signal a weak pullback. I would like to see this pullback either the 200DAY EMA or even further down to a previous key level of resistance that broke through and now should act as support(green horizontal line). I would be buying more STEEM if we get this weak pullback.

Finally the 4HR chart has a yellow line(ascending level of support) that may be broken after boucing off major resistance level. If this yellow line breaks price could come down to a big support level that could coincide with the 200DAY EMA. Its kinda like a zigzag down and up before breaking through major resistance and continuing its higher trend over the next few weeks or days possibly.

Thats all folks, pretty pictures with lots of lines and bars.
Happy trading folks.