A few days ago I made a post highlighting a consolidation pattern that Steem was in. You can see the original post here https://steemit.com/newbieresteemday/@nickh725/now-is-a-fantastic-time-to-buy-steem. Since then Steem has done absolutely nothing. The downtrend and floor of support are closing in rapidly, and one will be forced to give out soon.
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The volume is still almost nonexistent, so nobody wants to bet which way Steem will break. Usually when the volume decreases, it represents a shift from the most recent trend. Since Steem has recently been in a downtrend, the low volume could indicate a possible reversal higher.
Steem will break up or down in the next few days, but the charts indicate that positive price action could be in store :)
$6.50 is still my short term price target on a breakout in Steem!
Nice! Fingers crossed...
that would be awesome i'm hoping too!