Hello STEEM Followers,
STEEM completely under pressure right now. Here's my thoughts. The previous cycle (low to low) was 18 days. For this cycle, the high was 8 days, so this is not looking good for a strong right translated cycle, but still possible. Price can definitely form as a left translated cycle, meaning, it may go lower than the previous low at (2.7).
If trading, exiting STEEEM below the 10 MA was the right call. I did not post that opinion since I am holding for the long term and I currently have my STEEM Power locked up.
Lots of uncertainty in my mind. If the BITCOIN bubble bursts, 2018 will be a slow grind to much lower prices. This IS VERY possible. Let's hope it bounces from the 50 MA.
If this blog post has entertained or helped you profit, please follow, resteem, OR up vote me! Thanks everyone.
I am not a financial advisor in any shape or form. The contents in any of my posts are merely opinion alone. I'm simply stating opinions.