Hello Everyone,
Good morning everyone, how are you, i hope you all guys will happy and good. By the grace of God, i am also good. Today i am here with new post in which i am going to share my analysis on steem and bitcoin. I will share the both technical and fundamental analysis. So lets start.
Steem was stuck at 0.2550 to 0.26 level from many days. BTC was at 44k+ level but i was not seeing any movement in steem coin. I was little bit worried but yesterday was the good day. Btc take correction from 44k level to 42k level. Then alt pumping season has been started. Mostly coin are waiting for the btc correction. Finay the whole market is in green season. BTC was continuesly following the uptrend from 38k level but yesterday was the day of btc correction.
Now steem is making the top and bottom pattern by following the uptrend path. In short words. Steem remained relatively stagnant within the range of 0.2550 to 0.26 for an extended period. However, recent market movements, particularly Bitcoin take a dip from 44k to 42k level. Then after this dip we are seeing the sparked momentum in altcoins like Steem. This Steem behavior giving the indications of a potential upward trend.
First of all, we look into steem chart and try to do the technical analysis.
If we look into 4 hour chart then you can see in the above screenshot that steem has successfully break the 0.2650 resistance level and now it is trading above the 0.2650 level. You can see the clear image of market movement of steem. Now we talk about btc.
First of all, i want to talk about binance fuds, tether fud and other market news. I am continuesly saying that btc is own track and continuesly following the uptrend track to make the all time high candlestick of year. I will suggest you that never open the short positions against the BTC other your future on crypto will ruined.
In the 15 minute timeframe, you can see that btc make the double bottom then bounce back. Now again btc is on track. It is trading at 43600 dlr level.
What you think about btc in cooming days and what is your plan in future about steem. It would be my pleasure if you will share your opinion and reviews about steem price and cyrrent market situation of steem.
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