$STEEM 30-day low (has rebounded above the previous low), current price 0.04958, previous low 0.04791.
After making a new low, it generally follows one of three paths:
① Bounces back to the previous low and gets pushed down: the decline continues
② Moves sideways near the previous low: consolidates while waiting for direction
③ Quickly recovers the previous low and holds above it: a false breakdown
There are signs of ③ right now; the key is whether it can hold.
#STEEM
I could be wrong, so make your own call.
After making a new low, it generally follows one of three paths:
① Bounces back to the previous low and gets pushed down: the decline continues
② Moves sideways near the previous low: consolidates while waiting for direction
③ Quickly recovers the previous low and holds above it: a false breakdown
There are signs of ③ right now; the key is whether it can hold.
#STEEM
I could be wrong, so make your own call.