Today we decide the fate of the current up trend for Steem - TA 26th September 2016

STEEMBTC 4HR ANALYSIS (POLONIEX)

Previous forecast:

I am now expecting a small correction to the downside towards 0.00088503 area before the next lag up begins.

As expected Steem has retraced back to the trend line of the up trend it may be developing. Price is currently trading exactly at the trend line around 0.00088503 and from here we will very soon today decide whether the up trend will develop indeed as predicted or we brush off all the gains made the past few days and continue the main down trend once again.

I am expecting another upside move from here and trading above 0.00112996 will confirm case for the up trend and increase the chances of further recovery in the coming days.

A break below the trend line around 0.00089085 will signal that we won't develop an up trend yet and price will swiftly fall back to previous recent lows.

Key Levels:

Support: 0.00089085

Resistance: 0.00112996

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Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment or trading advice. The author does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be held liable for any loss incurred.

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