Sideways Action : Support Held at BTC

Hello Steemians! There is continuous sideways action in all major crypto. Let us have a look at BTC:

As of this writing BTC is trading around 7600. It did held the 7400 level, which is important as that gives some confidence to the present levels. However, volume remains weak. So if we fail this level, we will be looking at 6400 and then 6K again; where as in case of a rally we will be looking for 8600 first and then 10K.

Steem:

I have been writing about the strange SBD trading going on HitBTC here. Looks like that event had little to no impact on price of steem, which continues to trade range bound. Steem is currently trading at 2.36; very near the low end of the near term range. Support will be near 2.0, and if we bounce there is a long way to go till 4.7 levels. If I say volume is a disaster, that will be an understatement :) There is literally no interest in steem in the outside market.

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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