Above, you will see the Accumulation/Distribution indicator along with the chart.
Steem Brief Analysis
Although price has been decreasing, accumulation of Steem has been maintained. This looks like a clear accumulation phase which can initiate the intermediate phase (Also called public participation for stock market). Once in the intermediate phase, prices might break the 0.00029BTC resistance and go to the next one, 0.00033 - even to 0.00035 depending on the market's sentiment. As always, it is very important to keep track of possible tops and bottoms with indicators of sentiment, volume, and oscillators!
For this analysis, I based my hypothesis on the very accurate Dow Theory.
Note
Thank you for reading! Remember that every investment involves risk, and you should conduct your own research before making a decision. This post is for educational purposes only.
