Steem is strong with the force today. Right now it is up 12% and this is the best day in almost a month. The last day Steem really kicked ass was on June 6th when Steem was up 42%. Could we beat that today? Who knows, but it sure as hell is a good feeling.
Lets have a look at the hourly chart first:
It has really broken out on the hourly chart as you can see and it will soon reach a critical point when/if it gets to 0.00075 BTC. If it indeed cross that descending trendline, we could have one helluva ride.
Ok, but what does it look like on the daily chart? Here it is:
As you can tell, it is looking really good on the daily chart as well, a long strong candlestick so far but as I mentioned earlier, the critical point is 0.00075 BTC. It could very well be that it stops at 0.00075 BTC and need to get some rest before it can charge higher.
Ok, finally, lets look at the weekly chart:
On the weekly, it is hard to clearly see the action but Steem is still moving within the long term upward channel and that is what we want. And the top of this trendline channel is currently at 0.00123 BTC and that would be an increase of 89,2% from the beginning of this week, so that would be extraordinary of Steem could get there this week. However, these large moves have happened before so who knows.
Anyways, just wanted to keep you updated on Steem.
Happy trading!