Steem developing possible up trend - TA 25th September 2016

STEEMBTC 4HR ANALYSIS (POLONIEX)

Steem is recovering as we have previously forecast after breaking out of the falling wedge to the upside. The move to the upside is promising and we now look like a new up trend is developing which would mean further recovery in the coming days. I am now expecting a small correction to the downside towards 0.00088503 area before the next lag up begins. If Steem is unable to sustain this up trend and price is indeed to move below 0.00079427 it means once again the main down trend is too powerful to be even corrected decently and more downside would follow with new lows.

Key Levels:

Support: 0.00086578

Resistance: 0.00159185

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