@cryptoctopus requested a STEEM update, so here it is:

We have seen this pattern before in Bitshares. A massive spike, everybody thinks this is it, the wave up has finally started, only to find the price at a new low a few hours later.

It could also be an ABC in wave 2, but it would be a very deep correction. I have put the most probable pathways (in my opinion) into this STEEM/BTC chart:

All the previously shown bullish patterns have been denied and reverted, and right now I can't find any, so I am not sure if we have seen the low yet. It might retest the alltime low, like I already predicted a month ago.

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
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