STEEM/BTC Macro Technical Analysis: Bounce here or die!

in #steemit • 6 years ago

Haven't posted here for a while now. Saw steemit bookmark on my browser and I thought that maybe I should do a Technical analysis post on STEEM.

*Log scale

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You can see that 2 very crucial supports are converging here at this point. This could be a worthwhile knifecatch, but use tight stoplosses to keep yourself safe.

Target: 16500sats - 18000 sats.
This bear market has hit every crypto very hard. If STEEM/BTC it breaks these supports, I expect more carnage until we hit 4 digits again. Until BTC completes it's bear cycle, no crypto is safe.
Stay safe out there! :)

#steem #bitcoin #cryptocurrency #trading
6 years ago in #steemit by
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