Steem unable to sustain up trend, downside looks imminent once again - TA 29th September 2016

STEEMBTC 4HR ANALYSIS

Steem was unable to sustain the uptrend and broke to the downside from the area 0.00091009 which was key for an up trend. Currently we are developing a correction which we can expect to go sideways and then finally break to the downside towards the previous lows around 0.00068242.

Any recovery attempt now has to be very impulsive and should be able to spike price above 0.00118046 but this looks pretty unlikely to happen and a break below the current correction around 0.00081239 looks imminent and should see price heading towards the recent lows quickly.

Key Levels:

Support: 0.00081239

Resistance: 0.00091579

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