Steem/ BTC 1-hour chart below:

Very unwise to buy Steem before at least a breakout (and 1-hour bar close) above the upper line of the triangle (red line).

Better odds come with a close above the first major horizontal resistance (lowest yellow line).

The most conservative (safest and highest probability) buy comes with a close above the second major resistance, with 50% fibs confluence (marked by the big black arrow).

It's smart to wait for confirmation of a change of trend before buying, IMO. This thing could still have a long way to fall.