STEEM/BTC - Buyers still in control

STEEM/BTC 1HR CHART (POLONIEX)

STEEM/BTC 4HR CHART (POLONIEX)

Steem price recovered higher during the past few sessions versus BTC , and also the current structure that is developing is showing further bullish signs on the  1-hour chart. The recovery which started from 0.00090937 is expected to continue as part of a correction of the main down trend which would see further gains.

Currently the volume is low and once volume picks up buyers should be able take price above 0.001205 which would open door for further gains towards 0.001205. 

It is important to note that it is too early to consider a short term trend change to the upside has begun as the structure is purely corrective in nature right now.

The risks to the downside are currently low and only a break below 0.00110411 would signal the end of this correction up and a resumption of the down trend.

Key Levels:

Resistance: 0.001205

Support: 0.00110411

MARKET DEPTH (POLONIEX)

 STEEM MARKET CAPITALIZATION 

STEEM MARKETS DATA (POLONIEX)

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment or trading advice. The author does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be held liable for any loss incurred.