Steem Analysis. Steem Bulls Blitzkrieg (#3)

Steem bulls are in armor pushing their tanks north. Bears have no other option to retreat and regroup.

Everyone can see a direction of Steem at the moment, but predict good entry points in this bull market isn't easy to set. And good entry points is what make a trade great one. Many TAF guys here draw Elliott waves and think how fancy they are (the waves), but no one try to predict levels on which this impulses will start.

In my previous analysis #2, I try to predict some values and it turn it out that first two levels (123.6% extension $4.68 ,150% = $5.23) had been overrun by armored bulls but on third position (178.6% = $5.96) I almost pinpoint the correct level where bears are taking a stand stopping bulls for a while. But probable that stand won't last long. Bulls are on Blitzkrieg. Their next targets are $7.92 and $8.60 and in $5.12 and $6.92 bulls will make his last stands to continue his campaign. My proposition is that bears will push price down for 38.2% (second Fibonacci retracement level) after each bulls impulse upwards.

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Prevoius analyses: #1, #2. It's good to check previous posts to get wider picture of price movement.

Image sources: Investing.com, 

Data sources: Bitfinex exchange

Disclaimer: If you use my ideas and analyses in your investment ventures, you take all responsibility and consequences about your actions.

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Let steem on, to the bright future!