Steem Correction Could Be Complete
From a previous update, I have marked out how the 2016/7 price action is similar to the 2017/8 action. It appears that the recent fall brought price to point d.
If it goes lower, then a much more bearish alternative comes into play.
It has formed a wedge, from which a breakout is expected. We could see a decent rally soon.
This is not financial advice, do your own due diligence. I am not responsible for your trading decisions.
I hate to say it, but looking at your chart, I think we still have some time before we head upward.
At point C around 2016/17, it goes on for several months before we head upward sometime around March 2017.
At point C in 2018, it looks like a similar pattern, and if so, then we should be going on for a few months before we head upward.
Unfortunately, I think there were other circumstances in 2017 that PUSHED the platform forward and increased the user base, which increased the value of STEEM. I don't know that we have similar circumstances today that will PUSH STEEM UP. I hope that there is a PUSH forward.
I am an amateur here, so please, take no offense. I have hope too but I don't see it recovering yet. . . .
no offense. the scale is much smaller than the 2016/7 pattern.
OK, now I see, it's the same pattern on a smaller scale so now is the time to head upward. Thanks.
Thanks, I really enjoed this. You really articulated your point. Great job.
Thank you for your continued support of SteemSilverGold
Its a great time to buy some steem, but if it does go lower, then its time to back the truck up and buy more steem many other cryptos. Thanks for the analysis @hgmsilvergold.
true. how great would it be to pick steem at $0.16. the bearish alternative might not be so bad after all.
I was in need of such possible good news. Thank you.
i hear you.