Steem another attempt for recovery likely - TA 03rd October 2016

STEEMBTC 4HR ANALYSIS (POLONIEX)

As was expected Steem went down before stopping just a few pips away from the previous lows around 0.00069186, currently another attempt for a recovery is looking very likely now, I am expecting price to go to the upside at least a 100 pips or more now.  It is too early to tell whether we are forming a bottom in this area but the failure to break the previous lows and attempts at recovery looks promising.

A break below the current structure around 0.00069466 is bad news and it should see price head to new lows below 0.00069186

Key Levels:

Support: 0.00069466, 0.00069186

Resistance: 0.00105961

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