STEEM emergency update 20.06.2019

in #steem • 6 years ago (edited)

There is a pattern that I am watching right now in STEEM.

Usually an "ascending right triangle" breaks to the upside. But in this case, if STEEM does not break out to the upside VERY soon, it will break down hard.

udBka5Q2.png

Why? Because there could be an Elliott Wave pattern at play (on a larger scale than this ascending right triangle)

CDfYFLOX.png

If this bigger pattern plays out, we will see at least 13 cents STEEM in the near future (fib target).

My gut feeling is getting bearish. If true, now is the WORST possible time to implement the hardfork... because it could drop hard. Please wait until we have already dropped... seriously wait with that... at the lowest point, it can only get better...

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If you think this to be useful information:
DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif
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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.
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legal3.png
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Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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#sbd #steemit #palnet #cryptocurrency
6 years ago in #steem by
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    • [-]
     6 years ago 

    We will see what happens, lets hope it will break out 💪

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    [-]
     6 years ago 

    I hoto see steem get to 75 cent soon 😀

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    [-]
     6 years ago 

    STEEM/BTC has been printing new lows for the past month now, with oversold conditions in the first half of May. In a couple weeks (August?) there should be a very interesting reversal.
    steembtc200619.png

    [-]
     6 years ago 

    My gut feeling is getting bearish. If true, now is the WORST possible time to implement the hardfork... because it could drop hard.

    I was thinking just the opposite - EW count expects hard drop and then comes the news about hard fork. This is excellent buying opportunity.

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      [-]
       6 years ago 

      Only if my gut feeling is wrong. Otherwise, they will blame the drop on the hardfork, even though it is bullshit.

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      [-]
       6 years ago 

      My feeling is I made a huge error not getting out of Steem at higher prices.
      Could be a dead donkey. I hope it’s not but time will tell..

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        [-]
         6 years ago 

        STEEM bucking the market trend and going lower unfortunately

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