STEEM is operating within a wedge. It could break up or down in the very near future. My bias is a break down to the 15.6K-15.0K satoshi support zone...although a bear trap is possible.
Zooming out to the daily chart, we can see clear hidden bearish divergence on the Stoch RSI.
Viewing the larger picture, STEEM has been operating within a wedge, creating lower highs and higher lows. As it approaches the apex of this wedge, a breakout becomes more likely. My bias is, STEEM will breakout and up sometime mid to late September.
In today’s video analysis I discuss possible trade setups, how price may react to different scenarios, traps to avoid and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or https://mentormarket.io/profile/@workin2005?aff_id=Workin2005 in order to watch.
BIAS:
Short Term: Slightly Bearish
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
If you found this post informative, please:
If you don’t have an account on Binance, I STRONGLY recommend getting one. They’re usually the first to get reputable coins, have excellent security and second to none customer service. Sign up here free of charge: https://www.binance.com/?ref=16878853
Brave is one of the safest, ad free browsers ever created. It helps support the crypto ecosystem by awarding content providers with BAT tokens. Join the revolution and download the latest version here, free of charge: https://brave.com/wor485
Follow me on Twitter (handle is @Workin2005) and Facebook to receive the latest updates. https://www.facebook.com/Workin2005. Also, make sure to check out TIMM (Traders & Investors Mentor Market), a STEEM based platform for traders and investors of all levels. You can find the link to TIMM below.
Published on
by Workin2005
