STEEM has broken down through PWSH1 and currently testing trendline support. A close below $4.25 would break through 2 supports (the top trendline and the lower bound of PWSH1) and would invalidate the top trendline. Price could possibly trade through the lower trendine and bounce, similar to 1/16-17 where long tails were left on the daily chart (circled in red).
STEEM looks like a pretty solid entry in the $3.50 - $4.00 range.
Yesterday, BTS traded below the PWSH1, but managed to close inside of it. Currently, BTS is trading below PWSH1. If we close below $0.39, BTS could trade lower into the low-30c to high-20c range where trendline support should kick in.
Would love to see BTS rally today and trade back into PWSH1 above 39 cents.
EOS looks the strongest out of the 3 as it has the steepest uptrend and looks to be consolidating near the highs. However, EOS did close below the PWSH and could trade sub-$10 before hitting trendline support.
My guess is that the market won't do much in the next 2 weeks leading up to Chinese New Year on the 16th of February. Will this prove to be a good entry point? Let's wait and see what the market has in store for us...
Disclaimer: This post is not meant to be a recommendation to buy or sell any financial instrument. Do not invest money you cannot afford to lose. Always do your own research. This is my opinion.
