Hello Steemians! At the time of writing of this post BTC ans all major crypto are trying to find a bottom. Let us take a look at the BTC chart.
As we can see from the BTC daily chart, the prices broke down below 6000, but that was a "fake out" and there was an immediate bounce, and with that prices are hovering around 6200. There is not much volume in this bounce and prices remain well below all major trendlines and EMAs. So there is really no reason to celebrate. I do not see much evidence for a bottom yet, as I will take one bar at a time.
Steem:
Similar story here. Steem broke the important 1.3 level and immediately bounced back. So the levels are not really broken yet. Prices are currently trading at 1.34, which is nothing much to talk about and the volume remains weak. Lot depends of the BTC in the coming days/weeks. Let us see if we can hold this important levels or not.
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.
Charts are created in Tradingview.com, which is a free service
