Steem hit bottom in December 2018 and is looking ready for a nice ride up in April.
Price bounce from the 50 MA and trend line support straight above the 200 day MA to the previous high at 14736 where we got rejected.
The 9500-10000 area where we just bounced (bullish retest), seems to be providing a confluence of support.....the 200 day MA, daily horizontal resistance and the trend line support, which has held price strongly since the Dec low.
RSI is on its historical support at 35%,
Bullish cross on Stochastic below 20% level
With the 50 day MA which just crossed bullish above the 200 day MA is presently acting as resistance.
Giving this bullish set-up, the 50 day MA should give way pretty soon.
Targets are outlined in the area of the horizontal resistance above.
Note: STEEMBTC remains in a downtrend until price successfully breaks above the previous high at 14736. Trade with stop loss.....
Price bounce from the 50 MA and trend line support straight above the 200 day MA to the previous high at 14736 where we got rejected.
The 9500-10000 area where we just bounced (bullish retest), seems to be providing a confluence of support.....the 200 day MA, daily horizontal resistance and the trend line support, which has held price strongly since the Dec low.
RSI is on its historical support at 35%,
Bullish cross on Stochastic below 20% level
With the 50 day MA which just crossed bullish above the 200 day MA is presently acting as resistance.
Giving this bullish set-up, the 50 day MA should give way pretty soon.
Targets are outlined in the area of the horizontal resistance above.
Note: STEEMBTC remains in a downtrend until price successfully breaks above the previous high at 14736. Trade with stop loss.....
