Hello,
the spread STEEM/BTC collapsed @0.0015. This is the target for the short term trading.
Now it's possible that the bearish trend is over...
STEEM/BTC (4 h chart):
In particular we think that the trendline's breakout (in blue) could be the signal... Go long only after this breakout.
We'll update in the next days...
Best
@quant01 Are you aware that in order for TA to hold true, it must be supported by sufficient volume of trading. At the moment, there isn't enough open volume traded. So there could be a possibility of further break down the price level of so call support if someone with a heavy volume some selling. Do trade with caution.
Hello cire, we agree with you. Volume is a good indicator in particular on the crypto.
As you wrote: "trade with caution"... Totally agree
Seems like Steem is still heading down these few days. There isn't any buyer support it seems.
Thanks for your opinion. We'll certainly see, won't we? As of now, it bouncing off the 0.00155 level. Could be a good entry point? I don't know, but it looks good enough for a leg-in.