As can be seen in the chart above, STEEM is finding short term support in the 50% to 61.8% Fibonacci retrace zone of the entire move from lows to recent highs. This area also coincides with intermediate term horizontal price support and the rising 100 day moving average.
In spite of my being short to intermediate term bearish on the general market, I think these are very nice prices for long term investors interested in getting involved in STEEM.
I also think this is a nice place for short term swing trade scalpers to add to their positions – my purchase was to bring my STEEM book up to 100% long. 😲
Please leave your comments, input, questions, etc., below!
