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Steem (STEEM)- Trading Update - Morning Analysis - 09/12/18 - Major Support Broken!!! by hawaiialoha

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· @hawaiialoha ·
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Steem (STEEM)- Trading Update - Morning Analysis - 09/12/18 - Major Support Broken!!!
![steem_banner.jpg](https://cdn.steemitimages.com/DQmfX52mJqdftXg1KgbEGtSHZc2UNRnavar7tXdsaG8fw8G/steem_banner.jpg)

This is HORRIBLE. Steem has broken through the key support at $0.70. We had to go all the way back to May 2017 to find the next level of support which is at $0.52. The problem with this level is that there is only ONE point to connect it to so we consider it weak support.

If you look at the one day the RSI is moving into over sold territory and the MACD has crossed bearish.

The 4 hour has the RSI and MACD at extremely oversold levels. We are expecting a dead cat bounce here.

We are very concerned for the long term viability of Steemit. We continue to support the platform and hope you do the same.

# 4 Hour

![aa.jpg](https://cdn.steemitimages.com/DQmU8JHHVRv687fCK3WE7XggHBerTShY49c8yamxTPiY7vQ/aa.jpg)

# 1 Day

![a.jpg](https://cdn.steemitimages.com/DQmXGpQfQf8da7DjxHQsc5swVksW1D8qzi3f9w8CTG77tdP/a.jpg)

If you don't have a Binance account, and like our posts, and are going to set one up (especially to trade STEEM) we would appreciate if you support our efforts by using our referral link. It doesn't cost you anything and it helps fund our efforts. Mahalo.

[Click here to set up your Binance account](https://www.binance.com/?ref=18563321)

*(We are not professional traders this is just our opinion. The above references an opinion and is for information purposes only.  It is not intended to be investment advice.  Seek a duly licensed professional for investment advice.)*
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