Hello Steemians! We continue to see sideways action in all major crypto currency. Let us have a look at BTC:
As of the writing, BTC is trading slightly above the 7400 resistance line, but there is no way I can say that it cleared the resistance. Volume is terribly low, and therefore there is no powerful movement in any direction. This is a traditional trading range and grinding action. For trading purposes I personally am staying out of the market until I see any directional bias.
Steem:
There is similar action in Steem. The downward move paused for the moment. However, we are still below the 2.5 resistance line. There is no volume. So seems like we are stuck here for the moment. Unless someone is willing to accumulate steem, there is little interest to trade it at these levels.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Charts are created in Tradingview.com, which is a free service
Need to check out the law of 6's to see exactly what is going on! https://steemit.com/crypto/@heyitskolin/btcusd-yah-6-is-the-damn-der-law-round-dese-ere-parts
Simple, short and well explained.
Good one mate, thanks for the share.