Hello Steemians! BTC have been trying to rally again, but this time the daily chart looks good. Let us have a look:
The current BTC reversal started from the low of July 12 at 6075. That level is currently holding so I placed a solid green line there. As of this writing the prices are near 6400 again. Now 50 EMA is around 6800 and we have a near oversold stochastic. So if there is a move to go above 50 EMA is a one of the best short in recent times. Lets see what happens. We still firmly remain on the downtrend though. Therefore, any rally have a very high chance of shorting campaign.
Steem:
Steem is staging a weak reversal from the July 12 low of 1.20, which is now a support. As of this writing the prices are around 1.32 with oversold stochastic. 50-EMA is near 1.75, which is a long way to go. However, with support from BTC rally it can be done.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
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