STEEM/BTC : Breakout
Hi all,
As per my previous post .. https://steemit.com/steem/@spacepirate/steem-btc-triangle-formation .. we now have STEEM/BTC breaking out of the blue triangle and heading upwards.
The most recent support line is marked in green and the most recent resistance lines are marked in red.
I would take this not as confirmation STEEM/BTC is now in an uptrend, this breakout merely confirms that its no longer in that downtrend from the 100k Satoshi mark. Expect some sideways movement before testing either the 2 resistance lines or testing the long term blue uptrend. A break through the resistance at 100k satoshi would mean a strong uptrend, a break through the long term blue uptrend would likely mean a new down trend starting.
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