Lets talk about current market situation || Steem Alliance Community.

Hello Everyone,

Good evening 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 market analysis and trend on steem coin anf bitcoin. I will try to explain with the help of technical prospective. So lets start.

Steem is trading at support level. The strong support level of steem is 0.26$. First of all, we look into steem chart and try to do the technical analysis.

If we look into 1 hour chart then you can see in the aoive screenshot that steem is testing the 0.26 level again and again but there are to much buying order and seller can not beat the buyers at 0.26$ level.It is the sixth time steem again test the support level. I am doing technical analysis of steem continuesly.

The whole crypto market is showing the blood bath. In the screen short you can see it make the peak level at 0.33$ then it is starting to make the down trend with higher bottom and lower top strategy. Then it break the downtrend pattern and in the last post of steem price prediction i have clearly mentioned that i will must retest the support level again and now it is the exect tim eit test the 0.26$ level. I have make the circle in the above screen where it is testing the support.

Please avoid to take any entry in market, it is in correction mode and wait to get the confirm entry.

Now, we talk about btc and try to know its next movement. All alt coins performs on the base of BTC. So it is also important to know about it.

In the 4 hours timeframe, you can see many support and resistance levels in the chart.38k is the major resistance level. Btc has test this level two time but failed badly to broke it. Then it is continuesly drop and test tge 35600$ level and at that time it is trading 36600$ level. 35k is the strong support. I have draw all support and resistance level with price. After breaing the 32k resistance level btc is continuesly trading with 150$ to 200$ instant raisingly and droply.

After breaking the 37500$ it is continuesly following the down trend. It is the temprary bearish movement. Mostly traders are creating panic situation and selling their btc. So wait and watch. Now may be on weekend market will not show any upward and downward movemwnt. Correction in the BTC price is also a part of crypto. So don't worry.

It is very important for me to know that what you think about BTC in future and what is your plan in future about steem.

It would be my pleasure if you will share your technical analysis of current market situation.

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