STEEM POSSIBLE DESCENDING TRIANGLE | EXTENDED BEARISHNESS | RSI CLOSING IN OVERSOLD
Yesterday candle test out the purple channel top resistance but got push back. Tested the 2.55 support and bounce back. Looking like a fat doji, have it find the support to hold the bearish fall with the extend almost 9 bearish candles downtrend. Steem tends to follow btc movement and probably next few days we shall see if the M pattern (double top) will drive the price further south or bounce. Possible small descending triangle again and taking 2.55 support as triangle base as it consolidate for the next 5-7 before the next breakout point.
Short term moving average : downtrend with almost extend 9 bearish candles
RSI : closing in on oversold zone
SBD/STEEM : 0.852 still on extended dip (let's get some sbd)
Weekly Timeframe : -
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Disclaimer : This is not financial advice, it's all based on my personal biased opinion. Do your own research and put in the amount you can afford to lose.
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