There is possibility for the beginning of uptrend in STEEMUSD Technical analysis:
. Steem/Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of resumption of uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.4443 to 1.1025). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.4443)
Ending of entry zone (1.1025)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
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