Crypto Reversal?

in bitcoin •  6 years ago  (edited)

Hello Steemians! BTC have been trying to rally again, but this time the daily chart looks good. Let us have a look:

The current BTC reversal started from the low of July 12 at 6075. That level is currently holding so I placed a solid green line there. As of this writing the prices are near 6400 again. Now 50 EMA is around 6800 and we have a near oversold stochastic. So if there is a move to go above 50 EMA is a one of the best short in recent times. Lets see what happens. We still firmly remain on the downtrend though. Therefore, any rally have a very high chance of shorting campaign.

Steem:

Steem is staging a weak reversal from the July 12 low of 1.20, which is now a support. As of this writing the prices are around 1.32 with oversold stochastic. 50-EMA is near 1.75, which is a long way to go. However, with support from BTC rally it can be done.

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

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Too soon, too many people are still hyped for the next bull run.first people need to get shaken from all their pocket money and then we'll see a bull when everyone will forget about crypto.

Once a BTC ETF is official, it's BULL RUN TIME BABY!!!

still waiting for the market to raise. I AM ALWAYS HOLDING

Awesome post azricon. The first image you have on this article shows a reverse head and shoulders pattern. We should be seeing nice buy action this month.

Awesome article thank you for your information

Seems like a short run up, need significantly higher volume to sustain. Hopefully I am wrong though lol.