#Steem is holding on to the ascending channel and heading towards that 61.8fib resistance at 42.5k sats, despite all the other coins going berserk with the recent #Bitcoin fall to 7800 region.
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As you can see the channel lower trendline providing support and #steembtc bouncing up.
This was my previous post on #steembtc
https://steemit.com/cryptocurrency/@rajista007/steem-finding-support-around-50fib-region-steembtc
This consolidation from #steem after the A leg completion, seems to be a bullish Harmonic Gartley, if the pattern holds and we get a C leg around 42.5-43k sats region.
In Gartley pattern we don't trade the CD leg, D is a PRZ, where we can expect a reversal.
Long positions can be opened once we get confirmation of an uptrend reversal after D leg completion.
You can find the fully updated analysis on my Tradingview site as well here:
https://www.tradingview.com/chart/STEEMBTC/EpO10lcK-Steem-finding-support-around-50fib-region-steembtc/
As well as on my twitter profile:
https://twitter.com/rajista007
If you found something useful here/benefited from my calls, then kindly hit the upvote/follow me here, #tradingview as well as in #twitter.
https://twitter.com/rajista007
https://www.tradingview.com/u/rajista/
If you are in a tipping mood , you can buy me a beverage :)
LTC: LRapgEkUPwV2qENjtt3NEH8d4PPvW3sFfm
XRP Address: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh XRP Tag: 778576383
BTC: 1LM7tHMvLSghnBw2WTk3MSvfDyiGP5uGpd
ETH: 0x47eefeeea7e7b0d0840e841fbf3b3ab28ea86f88
Coins mentioned in post:
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