STEEM - The Support line is playing its role
Hello all,
Here is the chart of yesterday :
Here is the current chart :
The support line in red helped us to hold the drop and even created a bounce with the help of the BTC. We took some distances from that support line and we are going in the direction of the resistance line in orange. This orange resistance line is blocking us since some weeks now and is corresponding to the symbolic level of 1$. If we are able to break it, it would show us that we perhaps reached a low on the STEEM... More info on the next update ;-)
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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So from what I understand the Steem price is in a sideway movement which is building a lot of tension around it . I do not really expect Steem and SBD to go upwards too much as the platform itself has not had a significant reason to cause such spikes ( I mean also the blockchain ) . Ussualy Big changes in the price are caused either by some development or possibly Bitcoin going up . Not saying the developers are not doing anything .
Overall I would say this is not the best time for people with weak nerves to look at this particular market just because of the current state mentioned above.
Not much happening for the moment. We seem to have finally levelled off and won't see much improvement until bitcoin rallies. Hopefully soon.
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If Bitcoin 7150 waves over it, it will walk on 10 bins