STEEMUSD is roaring after US ratings agency WEISS released their first report on cryptocurrencies and honored STEEM with a favourable rating. @Cryptoctopus has the full story.

Anyway, the resulting rally has left the technical picture looking very rosy indeed ...

Pair carved a higher low on the 23rd and spiked into a higher high overnight. Pair appears to have completed a Double Bottom (W) reversal, with the last 4H bar closing above the pattern's confirmation line:

Buyers are currently testing the 50% of the January correction at $5.85. A break above there would target the 61.8 Fib at $6.58, followed by the 78.6 Fib at $7.62.

I'm confident that the low is in. Pair is bullish above $3.70, with weakness below there turning me neutral.

If we take a look at the performance of BTCUSD, STEEMUSD and SBDUSD since the lows on the 17th, SBD and STEEM are clearly outperforming BTC:

• SBD up 150% from $2.93

• STEEM up 107% from $2.73

• Bitcoin up 22% from $9230

Bitcoin bulls also seem to be attempting a Double Bottom reversal from key support and I think the market-wide correction could be over:

Looking for STEEM and SBD to continue to outperform in the coming weeks as sentiment picks up and the entire market recovers from recent weakness.