Crypto Sideways: But Found Some Support
Hello Steemians! Cryptos are largely trading sideways; but at least in BTC we have found a near term bottom near the 50 EMA. Let's have a look at the daily:
So after 3 down days, BTC did a hammer like bar near 50 EMA and trying to stage a reversal from there. However, there is little conviction in this move so far. Volume is drying up, so just looking generally not good in any direction. I think we might trade a narrow range for a while:
Steem:
Trading red here on Steem mostly for more than a week now. We are nearing 50 EMA at 3.2 or so. It could be a good place for a bounce; but if not we might see 2.4.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Charts are created in Tradingview.com, which is a free service
How long do you think we might go sideways (BTC) until some huge volume will come to move one way or the other?
I do not know. No one else does either :)