Hello Steemians! The 7-day old rally in rally is crypto is turning sideways. Let us take a look at the BTC price action.

There is a sign that the recent rally is stalling, as the prices couldn't break above 6800. However, this could just be a healthy pull-back, which we must hold, otherwise we will keel over and head for the lows again. Holding the first pull-back is the most critical item of any reversal; otherwise this is just a oversold bounce and it is ripe to short the rally near 50 -EMA. I have no idea which it will be, only time will tell.

Steem:

Similarly Steem couldn't break 2.0, and now going sideways. Again it is important to hold the first pullback otherwise we will sure to see sub-$1.0. Again at this point I am watching one bar at a time. There is little interest in steem in the marketplace, so it is basically trading parallel to BTC.

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.

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