Another lousy day for Steem today, but hey, that is just normal in the crypto world. We need pullbacks in order to charge higher later on. Now, lets have a look at the daily chart:
Comment: Steem fell at most around 20% against the USD but managed to bounce off from older support around $3,6. However, we did close below the bollinger band median so that is another negative and the volume picked up as well.
So, what will happen tomorrow (Friday)? Well, if we are going back to retest support we could head down to at worst probably around $3 dollar but we could also turn back up again since we have finally reached that support level. If we are going up, we need to break that descending trendline that has been bugging us for about 9 days now and a daily close above $5 would be appreciated.
But here is what Im going to do now, Im going to power up and get some more Steem from my earned Steem Dollar.
Wanna join me?