SUMMARY
STEEM broke out not only in price but also in MACD as can be seen in below chart. The abcde waves of the wedge were complete and a price surge allowed the breach of the upper blue trend lines. While there is a scenario for a lower low even with this breakout, a genuine impulse up can be started.
The microwaves show a five wave impulse up except the blue wave 5 is extended. The current correction seems yet to be another downward wedge currently labeled as abcde (white). Wave e is expected to be around $1.41 to $1.62 or so. It could go as low as the prior wave 2 (blue) given the extended 5th. For now, let's see if this minor correction stays within the boundaries of the wedge contracting lines.
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That breakout is fading, we need another one :)
I have charted wave e going down to $1 on STEEM
Lets see over the next two weeks.
If SMT's and communities come out you maintain a 1 USD target price?
We are in a correction cycle.
I maintain my call of $1 STEEM with in two weeks.
Everything is possible... if Bitcoin goes to 1000 USD I think Steem could go to 30 cents... In my opinion this would be such a good deal that I would have to sell a kidney in order to buy more... I do not think that SMT's or communities will come in the next two weeks though...
If they come I think Steem will explode in BTC-terms... If BTC stays as it is I would guess that 20-50 USD could be reached in a matter of days...
I said good news in two weeks not SMT's.
BTC may go down to $4000 not as low as $1000, STEEM could go down as low as 60cents.
Steem started rising ...
It's near about $3.43 today..
Great to see Steem rise in price.
I am still hoping for a 50% drop to buy more SBD
Good analysis and nice elaborated graphically. Good post. Thanks for sharing.
Hope we get 3$ price tag soon!
That would be unfortunate.
Price closes above $2.00 (yellow line), price has a chance to rise to $3.00 (green line).
A MACD breakout is meaningless. MACD is derived from price so it doesn't tell you anything else that the price doesn't other than a rate of change of price.
@haejin, With the downward wedge for a correction, should we be on the lookout for a spike outside of the wedge's boundaries, to indicate either a bull wick or bear wick? I'm expecting a deep correction, given the extended fifth wave, but I'm also watching for further impulses upwards (possibly as part of a larger-scale Wave 3). Thanks Haejin, and I wish you all massive profits!
I think steam will keep moving around 1.9 to 2.1
xvg? neo? bts?
He did 10 post today. You will have to wait another day!!!
ow great. its correct here right now
I think the bare market will continue for a while, while there is so much FUD going on. but eventually it will go back up when the Whales decide its the right time. There the ones controlling the market. So we have to wait for them.
Sir recently I have seen that bitcoins still falls upto the 6500$ USD at the end of the and then it gonna up from that is it what I have seen But not sure see what happened
Not to be, we were at a dollar for the longest time
I told you over & over his was a FRAUD!!!