Whether people think charting works or doesn't work really is of no matter, because in the end if it is something I find value from and it leads to me making better investment decisions then it is worth my time
Why do I mention this?
Because the price of Steem keeps doing what I expect over and over again!
Bounced of the next level support
Whether we see any follow through is a whole different story, but when we failed at the $2.60 level I said we are now in a new range with the down side in the $1.60 area.
So where did we sell down to and bounce? Yep, that $1.60 area. Price got as low as $1.47 before rallying back above to close above that support level.
Outlook
We really need to maintain this level as a close below $1.60 opens up the opportunity to visit the next support level of 80 cents.
No one wants to see sub $1 steem again!!!
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.