STEEM Update: Two Bottoms and a Short Term Projection

In my last post, the below image of a larger cup followed by a smaller cup pattern was discussed in detail. That pattern is still valid and no change has occurred. IMHO, Steem has been holding up well to the Bitcoin Bear! Unless prices fall below the low of the larger cup, this pattern remains valid.

Here is a shorter term outlook for Steem. The waves 1,2,3,4,5 are well placed and the a,b,c waves (red) could be complete. As is very common for cryptos, take a look at the expanded flat and the extended 5th waves! These are not that common in stocks, so very interesting. I'm slowly getting to learn more about the nuances of the cryptosphere personality; e.g. sentiment. Steem is right now channeling between two horizontal lines (black). No excitement due until prices bust our of the top resistance channel line.

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36

Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.