[Steem] Looks like we're recovering from the <2$ dip
Hello there! Time for an update about current Steem situation on the market :)
Did I say I have no idea about TA?
Today I decided to start learning the ropes of understanding the charts and trends on cryptocurrency market from the technical side. Yes, I'm talking about Technical Analysis. As for now I'd like to point out that I'm still an absoule beginner in this topic and I would highly appreciate all your feedback, both positive and negative. I still got much to learn and I'm gonna probably make a lot of mistakes but hey, gotta start somewhere right? :)
Current situation? - Not good, but it looks better!
Lets take a look at the graph below:
It looks like we've broken the resistance at 2$ (blue line) and we're on our way up.
Currently (at the time of posting - 19:19 GMT+1) Steem sits somewhere around 2.15$ and is continuing a nice bullish uptrend. The next poin of resistance is around 2.36$, if we surpass this then I guess we might see a comback to around 2.5$ and I think this would be something.. a nice start of a great uptrend after a series of bearish dips.
We'll see how the situation looks tomorrow, fingers crossed!
DISCLAIMER
All the above statements are my private thoughts on the topic of cryptocurrency, market and investing. Do not use them to make any investing decisions. The author does not take any responsibility for your actions.
Always think twice while investing - it's your hard earned money and you have to be aware that you're taking the risk and might lose them! That's why you should never invest more than what you're fine to lose.