Technical Analysis: Steem - Feb 13th

What has Steem been doing? There has been very little movement and volatility within Steem the past few days and compared to how it has been acting in the recent month since the new year. Steem still has yet to break the prior high set on February 3rd which has been tested once before will need to see it break this level as well as the upper trend line before we can take a bullish position.

Like I posted on my other blog about Litecoin, I believe the time is coming for the next major move in the crypto markets as we near a giant economic crisis. Seeing how Ray Dalio, with the Bridgewater group, took a 13.3 billion dollar short position on 20 companies in the EU shows how he has little faith in the markets and the current economic cycle we are in right now. Look to see more money flow into the cryptos as time progresses and we near the next coming correction or major economic event. The majority of the companies he took short positions on were national banks which would cause people to lose faith in the current monetary system and lose faith in banks.