STEEM/BTC Broke the channel

jumps (61)in #steem • 5 years ago (edited)

After being rejected by 200 EMA and broke the channel in my previous chart. it's clear a prolonged bear trend is continue + broken trend line that already established since december 2018.
Using ichimoku cloud Stochastic RSI , RSI and Macd is also continuation of downtrend while ichimoku cloud still not closing in into a bearish cloud/trend yet and stochastic RSI is lower level, there's expectation for some minor bounce in near future to test bottom channel level and if possible to get inside and resume the continuation of the movement within channel..

Keep in mind while 200 EMA closing in toward the support line.. i expect a major move either way to downside or upside in couple of months...

Ichimoku Cloud :
Pink color : lagging span (chickou Span) , if the position of the lagging span below the price action. considered bearish and vice versa.
yellow (Kinjun sen) & Blue (tenkan sen), if kinjun sen intersect tenkan sen from upper position considered a bearish momentum imminent, vice versa; if kinjun sen get intersect by tenkansen from bellow position considered a bullish momentum imminent.
red cloud : bearish price action is in certain time
green cloud : bullish price action is in certain time

There's 2 support line at ;