@cryptographic,
Friend you know I am daily posting Blockvitity status! In last couple of days STEEM breaks it's own record of highest transaction few times! I was curious but I did not try technical analysis! Today you did! Pretty amazing!
How many times I am thinking about this! Crypto world is equals to Stock Market place! If I am wrong please correct me! Good coin equals to a good company. The power of the coin depends on the concept behind it or investors who is behind the project! Best example Ripple, what happened to that coin in last few weeks of time! It got investors, but concept wise, personally i don't like it!
What STEEM has:-

• 3 Secs block time
• No transaction fee
• Scalability
• Concepts like SMT (upcoming), STEEMIT (Social Media)
• Etc (You can add more)
  So, this coin is still at it's stress testing level! I think it might rise anytime now! (I don't believe this $8 rise is an actual bull trend)

But with your analysis we can get a clear picture! Coz I am not an expert in Chart analysis or Technical analysis! So, I wish to hear from you more information about STEEM as well! Thank you very much for sharing this great article with us!

Cheers~