Steem unable to sustain up trend, downside looks imminent once again - TA 29th September 2016

in #steemit8 years ago (edited)

STEEMBTC 4HR ANALYSIS


Steem was unable to sustain the uptrend and broke to the downside from the area 0.00091009 which was key for an up trend. Currently we are developing a correction which we can expect to go sideways and then finally break to the downside towards the previous lows around 0.00068242.

Any recovery attempt now has to be very impulsive and should be able to spike price above 0.00118046 but this looks pretty unlikely to happen and a break below the current correction around 0.00081239 looks imminent and should see price heading towards the recent lows quickly.

Key Levels:

Support: 0.00081239

Resistance: 0.00091579


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