STEEM possible breakout?

137 1
STEEM has recently broken it's downtrend caused by the BTC bullrun. This could be a chance for STEEM to bounce back.
I'm anticipating some sideways movement for a few hours and then the signal.

The MACD has crossed recently and the RSI is showing an uptrend with plenty of room for growth.
All we require now is the volume to back it up. Anything from 200K and more volume on a green candle should be confirmation of a bullish movement and is our signal buy.

Short-term targets based on Fibonacci:
(1) 41450
(2) 45000
(3) 47855
(4) 50720
(5) 60000
(6) 66590

Lets see how far this goes.

Disclaimer: These ideas are intended for my own educational purposes and serves are a learning experience.
Any feedback welcome.
交易進行: Trade active @ 37000
評論: STEEM managed to get some volume and confirmed the reversal by having more than 200K volume on a green candle.
We are also headed for the first target, which is nice.
評論: Seems I am unable to update my posts fast enough.
(1) 41450 *** TARGET REACHED ***
(2) 45000 *** NEXT TARGET ***
(3) 47855
(4) 50720
(5) 60000
(6) 66590
評論: Lots of sideways trading over the last 48 hours.
A resistance has formed around 40000 and a support at around 36250.
One of 2 things are expected to happen of which both require volume of at least 2-3 times the volume average:
- Either we break the resistance by closing above it and then head towards the next target,
- Or we will break support by closing below it and go back to where we started (~ 31850)

Best option for me now is just to hold.
following you man..hope we see more ideas soon.i miss both 2 ideas you already shared.
thank you anyway.
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