Update from my previous steem/btc chart regarding the giant descending triangle pattern.. look like it broke the support and the price keep going down.
price below the EMAs line
parabolic sar in bearish trend
Indicators
CMF is in bearish zone
macd is interestingly show a low volume despite the price is drop and a clear bullish divergence is sighted
rsi is bearish zone and oversold in history in steem/btc price in poloniex atleast
i really dont know when it's going support going to be as i cant measure the support using the top of descending triangle as the price will be below 0 satoshi and since this is a low capital coin ( $ 100,348,809 at the time i write this) can easily being moved whether it's going up or down..
When the price does break above 7000 satoshi -which will be a resistance since the price action already broke it- that will be a good sign for upside momentum.
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
price below the EMAs line
parabolic sar in bearish trend
Indicators
CMF is in bearish zone
macd is interestingly show a low volume despite the price is drop and a clear bullish divergence is sighted
rsi is bearish zone and oversold in history in steem/btc price in poloniex atleast
i really dont know when it's going support going to be as i cant measure the support using the top of descending triangle as the price will be below 0 satoshi and since this is a low capital coin ( $ 100,348,809 at the time i write this) can easily being moved whether it's going up or down..
When the price does break above 7000 satoshi -which will be a resistance since the price action already broke it- that will be a good sign for upside momentum.
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
