Steem and Steem Dollar Daily Analysis, 13th September 2016

STEEM/BTC 4HR CHART (POLONIEX)

Steem price is struggling to recover further and buyers seem to be overcome each time by the sellers. Price is currently forming a sideways structure which would break either way but the bias is once again more to the downside I believe. A break down would resume the down trend and we will see further loss in the coming days.

Any chance of recovery would be possible if buyers are able to send the price above 0.00119094 and are able to sustain it enough to start a mild short term up trend 

Key Levels:
Resistance: 0.00119094
Support: 0.00101262

STEEM/ETH 4HR CHART (POLONIEX)

Like STEEM/BTC we are struggling to continue the corrective move to the upside that began earlier and the price is forming a sideways structure which as in STEEM/BTC could break to either side but once again the probability favors downside and a resumption of the main down trend.

A break below 0.05274603 would start the down trend as the buyers lose control and sellers take the driver seat. We need a sustained break above 0.06460075 to be able to start any recovery.

 Key Levels: 

Resistance: 0.06460075

Support: 0.05274603

SBD/BTC 4HR CHART (POLONIEX)

Steem dollar is in better shape than steem, even though it too is in a corrective structure (which ultimately will break to the down side) the chances of it going higher are better than steem and there is no major resistance nearby, as long as we hold above 0.00129523 we should be able go up more.

 Key Levels: 

Resistance: no immediate resistance nearby

Support: 0.00129523

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment or trading advice. The author does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be held liable for any loss incurred.

About me: I specialize in trading market breakouts, if you like my analysis and want to see analysis in other areas like forex, commodities and indices you can find me in tradingview.com here or contact me through my website www.thepiphunter.com