![](https://cdn.steemitimages.com/DQmVSLB3YDCSUeFBzzbCzkAaKa7CCVxgKEuDco48VMYfQyn/image.png)

As discussed [previously](https://steemit.com/steem/@technicaltrader/steem-usd-basing-or-continuation-pattern), it seemed to me that the strength seen from mid-month would be best left alone, given we have yet to see a significant basing pattern form, to give us enough confidence of a long-term low being made.

With price having failed at quite a natural level, around the November highs, the best case scenario here would be for price to form a rectangular or triangular base over a multi-month period. Should that occur and price break to the upside, I would begin to get more positive on a long-term view.  

For now however, the December low remains the line in the sand. Should that break, expect to see price continue to move to the downside.