STEEM is still working out wave 4 as can be seen in the below weekly chart. A bear flag is the likely pattern. Once complete, the blue WXY sequence should get to completion with wave 5 targeting the $0.09 to $0.12 levels. The alternate is that blue Y is complete and placed a the most recent low. However, this would need to be confirmed with price breaching the bear flag top trendline and rise towards $0.84.
Short term shows a fractal of Inverse H&S patterns. Before the prior run up, this pattern triggered the rise. The current Inverted H&S seems complete and now price needs to decisively rise above the Neckline. Given the WXYXZ triple combination that is in play; price has the potential to rise 63% rowards $0.54.
Great work Haejin!
Thank you for this update I m waiting for this analysis. Is it good time to get entry in steem for short term or wait til 0.12 cents.
The $0.12 is still coming, IMHO. However, as a trade, I'm already in for a long trade towards $0.54
If we get to the level of 0.84 and stability above it maybe we will visit the $1
Oh, yes, if $0.84; then the bottom is in!
well done @haejin thats great analysis
I think we need some time to go short-term, but in the world of crypto, nothing is impossible.
very useful analysis i hope we fly soon
One of things I check in on Steem for is to see see your analysis updates :) Keep up the good work.
Nice job! Keep us posted on this one.
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really amazing analysis, I get new knowledge now
Once again, well done with the TA. Always a good reminder that prices are going down
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