STEEM/BTC state on 08/03/2020: Moving to 0.00002500 zone
In this post I'd like to share with @zambez and other Steemians who trade STEEM/BTC my vision of the current state of this pair:
Daily chart:
Despite that fact that Stochastic RSI is entering to overbought zone, it looks like we'll get doji candle on decline that generally means upcoming reversal. And the price still moves in ascending channel. That is why major scenario is UP and I see 0.00002500 STEEM/BTC as the nearest target.
4hr chart:
and
Hourly chart
from my point of view confirm this idea, especially the last one that shows that there recently was failed breakout of the channel.
Weekly chart:
is also in favor of Buyers because the price is above the middle line of Bollinger Bands and we have clear last green candle after the price bounced up from this level.
So, I continue to hold my Steem tokens, guys, as their value in BTC with very high probability will continue to rise.
Yay!
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