Hello, gentlemen..
I have heard and read about the death of cryptocurrency so many times over the past year that now, looking at the exchange charts of coins, I feel a sense of gloating. Cryptocurrency is alive and will live forever, like rock and roll!!
A typical example is Steem. It doesn't matter how bad the project is or how good it is. The main thing that it works. Apparently the bad times have passed for him, as the negative trend of this coin for several months has changed to positive.
"Binance", timeframe 1 day.
Lines 1 and 4 are the main resistance and support lines at the moment.
Line 3 is a local support line, which may become the main one over time.
Line 2 is an important psychological level of 0.0001 BTC price, which will keep the price from falling for some time.
Following the expected drop in the bitcoin price to $ 3700+, the Steem price will also drop to the psychological level of 0.0001 BTC. After that, the price will bounce up, but the price will not rise above the line 1. Further movement of the coin will take place inside the yellow corner 5
We remember that the price of bitcoin in the future is likely to fall even lower. The Steem token for this case has an airbag in the form of a local support line 3. If the price of the token falls to this line, the support from below will increase and the price of the token will quickly break through the resistance line 1.
In addition, the steam exchange chart shows us the presence of a support line 4, which, with any fluctuation in the price of bitcoin, promises us a positive dynamics of the Steem coin.
Good luck!
A formal disclaimer
Some of the posts might contain our opinion on trading strategies based on our technical and fundamental knowledge. However, please, invest at your own risk. We can’t be held responsible for any losses.