A LOOK AT THE STEEM PRICE IN $$ USD $$ AND A POSSIBLE ELLIOTT WAVE THEORY
🐒 If you look at the Steem / USD I feel it gives a better picture of what is taking place In the Steem market. On the chart below we can see the high Steem price was on July 20 , 2016 at $4.59 and the low $0.07 on March 16 , 2017 . We also see the most recent high on June 9 , 2017 of $2.79 and the current price of $1.48
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🐒 In chart #2 lets have a look at a possible scenario of an Elliott Wave Theory playing out . Wave 1 went from a low of $0.07 to a recent high of $2.79 that is a distance of $2.72 then went down to a recent low of $0.88 to possibly end wave 2 down. If the $0.88 is the bottom of Wave 2 then the Elliott Wave Theory states a Wave 3 up should go 1.61 X the distance of Wave 1 added to the bottom of Wave 2. Wave 1 distance up was ( $2.72 X 1.61 = $4.379 ) + $0.88 Wave 2 bottom = Wave 3 Target price of $5.25
CHART # 2
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Please voice your opinions in the comments below..
🐒 A STEEM PRICE OF $5.25 WOULD BE NICE TO SEE within a few months
That would be sweet
Thanks you for the info I think that steem will go up to 8$-10$ by end of the year because more and more people joining steemit. I have got me some more when it was at 1$ a few days ago. Okay have a nice day and keep up the good work you are doing on steemit :)
Very interesting
That's a good prediction. I believe it will surpass 6 dollars though, in my opinion because of how many more people are starting to join. You should include the influx of people that are joining
Hope it will reach its all time high again. Bitcoin price is also important as steem moves along with bitcoin. In long term I am bullish on steem.
Great buddy..
Upvoted
This is useful information but unfortunately, according to the experts in the trade, the Elliot Wave Theory works only 50% of the time - if the pattern is unclear.
However, from the data depicted graphically above it does look like a clear trend. So I'm hopeful too.
Having said that I am no expert in analysis, but a newbie here keen to see the value rising.
Oh yeah, a Steem price of $5.25 will be great!
Upvoted and following for more.
Nice analysis. This looks like a pretty plausible path, I think after the August dust sales, it's off to the races.
This post has received a 1.37 % upvote from @booster thanks to: @spinbunny.
I'm just scared it gets to $5, then I trade Steem for SBD thinking it'll go down, then it continues up to maybe around $10.. It's risky
Just minimize the risk by not going all in.
True. I suppose if it does hit $5, then you can just withdraw the profits, that way you don't lose anything really. Awesome :)
Yeah take out the seed money, if you put $1000 in at a dollar, take out $1000 when it reaches $5 and you lost nothing.
Yeap, and then if it continues up, then you still making profit, and if it crashes down again, you just buy up again!
Awesome stuff brother. Your intelligent levels are over 9000! :P
Well it should be going down again this weekend like it usually does... and thanks lol!