Hello guys,
on this post we analyze the spread STEEM-BITCOIN in 3 steps:
1 PRICE
We use a 4h candlestick chart. The price move in sideways @0.0032/0.0038 and now is in the middle of this channel.
For a new bullish intraday-trend, it must necessary that price will break this resistance @0.0038. The target is @0.0044. Otherwise the bearish target is @0.0032. Under this level the spread could collapse.
2 RIBBON
This indicator suggests to us that the trend is bearish. For an inversion it's necessary that the yellow exp-line (@0.00367) crosses the second exp-line (@0.00369) and then the other lines...
3 OSCILLATORS
The MACD is ready to cross the signal line. The RSI and CCI must break the trendlines (blu) to confirm a new bullish trend.
At the end, we think that the best strategy is to be flat on the market, and wait for a new strong signal above the resistance. At the same time it's possible to go short under 0.0032. In this case the price can accelerate to the target @0.0025.
For any questions please do not hesitate to ccontact us.
Best