Market Update on Steem/USD 4/5/2018

in steem •  7 years ago 

I changed the color-coding of some of the marks I use to indicate good and bad patterns to make it more readable. If it works better let me know. If it is confusing let me know also. So we have price consolidating at this level but on a 15m chart it is hard to view the internal dynamics of the move so let us drill down.

So on a 3m chart the current triangle forming is giving me cautious optimism based on price action. There appears to be a balance between sharp impulse selling being met by small but steady buying. This is good. Buy it here? If you want you can scale in again but keep it steady and don't over-commit.

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broke below the yellow 'caution' line...so be careful out there