RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #31 "My mind was aching and STEEM was making it" Aug 30, 2016

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$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #31 "My mind was aching and STEEM was making it" Aug 30, 2016

in steem •  8 years ago 

Thx for your technical analysis.
I describe my idea below:
steem/btc
The large volume on down bars tells us that bear trend will continue. At the previous session, we have not reached a little bit the level of resistance - 0.00226527. We have reached the 100 day moving average and remained under it. The resulting 4 hour pin-bars chart shows that consolidation above the level of 0.0017 won`t happen in the near future.
Test of the level of support - 0.001757 will lead to break through the ascending levels of the triangle, and then we'll go to test the support level of 0.001228
Volatility is on the peaks, indicating the possibility of a strong movement.

Aim: 0.001228

Resume: Sell

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