Steem price on 25/10/2019: Under pressure
First, let's look at the BTC/USDT daily chart (Binance):
Bitcoin still falling down and at moment of wring this post is traded on 7400 level. The nearest possible reversal zones are 7000, 6800 and 6500. So, majot cryptocurrency pull all the cryptomarket down
STEEM/USD
Steem is at 0.1243 level now:
It is trying to make a double bottom at the current level and if today it manage to hold position, then we can expect bounce to 0.17. Otherwise, if bitcoin will drop further, 0.11 usd per steem will be next target
STEEM/BTC
Here we have the ascending triangle:
The pair is at 0.00001670 and is under pressure. While it is above 0.00001650 this triangle suggest us expect the start of the fifth wave towards 0.00001860. Otherwise, we can see the decline to 0.000015 that is extremely low and unbelievable for me but still possible.
I'm personally on the bulls side as the trading volumes at Binance are low, I expect that steem price will rise sharply as soon as bitcoin reaches its reversal point
Yay!
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