Steem possible cup & handle formation
Hello all, after 2 weeks of holidays in back in the crypto world!
Steem is showing a possible cup&handle formation, An healthy retracement followed the strong uptrend happened in during April, in this scenario the impulsive 5 waves and ABC correction are clearly visible.
On the daily chart supports match well with the fibonacci retracement, the price actually sit on a 4hr support and seems to consolidate but could briefly touch the next stronger support around 3500sat, could also be the end of C leg and the 0.618fib
On the H4 timeline the falling wedge is squeezing but is also visible a small hidden bearish RSI divergence, this could shortly lead right in the daily support I mentioned before.
Next hours should tell us more information, watch out the price for a possible reversal signal!
Steem is showing a possible cup&handle formation, An healthy retracement followed the strong uptrend happened in during April, in this scenario the impulsive 5 waves and ABC correction are clearly visible.
On the daily chart supports match well with the fibonacci retracement, the price actually sit on a 4hr support and seems to consolidate but could briefly touch the next stronger support around 3500sat, could also be the end of C leg and the 0.618fib
On the H4 timeline the falling wedge is squeezing but is also visible a small hidden bearish RSI divergence, this could shortly lead right in the daily support I mentioned before.
Next hours should tell us more information, watch out the price for a possible reversal signal!
تم فتح الصفقة
Panic dip caused by BTC recovered, the handle could happen a little faster
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.