STEEMBTC (Steem) just printed a higher high (HH) after challenging EMA200... Let's see what happens next!
STEEMBTC is looking up if we take into consideration the different trendlines.
Our next target is clearly marked on the chart with dotted lines.
If STEEMBTC can break 0.00002441 or EMA200, it is likely to continue up and hit a new higher high.
If prices fall below the rising trendline where EMA100 (blue) is touching now, we can see a retrace up to MA200 at 0.00001743 but we stay bullish and expect a strong bounce.
We remain bullish on STEEMBTC as long as prices are trading above 0.00001465. If prices go below this level we switch from bullish to bearish.