STEEMUSD Analysis - Huge Spike, but will it continue? [01.43 UTC 7th Dec 2017]
Analysis
STEEMUSD broke through the $1.65 today, which was a key resistance. I noted yesterday that if STEEM broke through, after a brief settle, perhaps a small retrace, which is what happened, this would act as a means of support and give confidence, causing a possible break in that $1.65 resistance. Well we certainly got that the last few hours. A spike up to our most recent high. Looking at the fib we could get up to $2.16 as a point of settling and calming down, but we do have resistances at $2.27 and $2.42 that were broken briefly by the spike. This next day is going to be very interesting. Ideally we want to see STEEM gain some calm and not see a complete pull back. We are likely to get some, in fact what we have seen in the chart is indeed one from the sudden spike, but we shall see.
What do you guys think?
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