The purpose of this chart is to provide an update for SteemBTC. The original post for this trade can be found here. The downward pointing blue arrow indicates the day the analysis was carried out (i.e. Feb. 12, 2018) and what transpired (after).
SteemBTC is approaching the target area mentioned marked in purple on the chart i.e. 0.00026681. Lines of support can also be drawn on the chart that show that the target area is a likely target for SteemBTC.
The support lies between 0.00025045 and 0.00019638. Should Steem hold around the region of support. It could possibly lead to the resumption of an impulse move upwards in SteemBTC or a 3 wave move back upwards. Either scenario calls for a long position in Steem