STEEM Price Basing In Process but Support Must Hold Against Decisive Breach

in steem •  8 months ago

SUMMARY

STEEM is reacting by following BTC in the current minor pullback. However, the big picture is always the best context. The chart below shows that most likely, curren price move is corrective and not a crash scenario. STEEM moved from a very long rounded bottom consolidation and after a lengthy correction, finally generated the five wave impulse. What happens after an impulse of five waves? There is a requisite retracement which can be in the form of an ABC, Triangle or Combination.

I've adjusted the triangle lines to better encompass the price moves. The ABCDE waves show that it could be nearly complete...very close. The only condition is that the bottom white triangle line must hold against any decisive breaching. Price proximity to the Apex should truncate after a couple more days of price action. Once and IF wave E completes; a breakout can be expected. Let's see how the overnight price action takes us.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.

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I've posted two scenarios with same price target. I think we're going to $31 in a year or so. What do you think long term?

STEEM - Analysis - The Future For STEEM Price ($31) — Steemit https://steemit.com/steem/@benkalashnikov/steem-analysis-the-future-for-steem-price-usd31

Screen Shot 2018-03-08 at 17.33.31.png

Its been one heck of a drop, everything is way oversold! Gawd

Personally I hope it doesn't crash, cuz I have a 4,973$ funeral bill I need to pay cuz my grandma died a week ago. So it's struggling rn.

Haejin you are correct, looking at the current market price morning and the rate at which STEEM and SBD is falling is nothing to write home about.
I believe it will rise again

Bueno, hay gran depresión en el mercado. Solo una buena noticia puede elevarlos. Mientra,s el que pueda que compre.

good steem money cryptocurrency post thanks for shearing

Good analysis

Deae Haejin I am a very long time follower of yours, I finally made my Steemit account and I look for reading more often your useful information

Thanks for an informative post. I do agree that long-term is truly the way to look at the major cryptos out there, and this little bump in the chart is really no big deal in the long run! Keep up the research and sharing!

Wrong as usual, but who cares right ?

Nothing personal, but I would not buy shares in this lopsided clap trap even if you and berniesanders gave me the money.

detailed, useful analysis thank-u @haejin

Get the cart and load them up with STEEM!

I have read from various commentators and everyone seem to agree with your submission that:

However, the big picture is always the best context. The chart below shows that most likely, current price move is corrective and not a crash scenario.

This current volatility will ease out.

Thanks for the information, but I kind of find it hard to read graph.

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Your TA is garbage.

Just recently you predicted steem to break out and hit $20+.

Anyway I'm not hating on you..

What you are doing here.. is perfect.

The REAL REASON WHY OTHERS ARE BITCHING....

THEY JUST CAN'T RAPE AS GOOD AS YOU...
And that is what really bugs every sad motherfucker on here.
It bugs them that they can't maintain a steady flow of rewards as yo and your support do.

So... shit.. I'm enjoying the whole show.
It was the inevitable. And the best is yet to come.

Unfortunately there seems to be no differentiation between one crypto asset and another at this stage... When one goes off, they all seem to follow.

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin10009.400$-7.66%-4.79%
EOSEOS6.547$-10.31%-22.98%
QAUQuantum0.186$-2.86%-16.45%
STEEMSteem2.805$-13.75%-14.31%
WAVESWaves6.282$1.16%-0.66%

Very informative