STEEM / Dollar Trade Descending Wedge and Elliot wave analysis 21 Feb, 2018

in steem •  2 years ago  (edited)

STEEM/USD

STEEM has been dominated by the bears since the beginning of 2018 indicated in the descending wedge shown in Fig 1. below.
Scenario A:If STEEM could break out as illustrated on the blue line 1-5 Elliot wave, then best buy is before $4.2
Scenario B: If STEEM could break below as illustrated on the Red line ABC Elliot correction wave, then best exit or stop loss is at $3.05

MACD is in a good position to accumulate more STEEM. When the right volume comes, Scenario A is likely to happen.


Fig 1 Scenario A and B


Fig 2. MACD details

Your Comments, suggestion and questions are highly welcomed

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Steem will cross 5$ next month

Certainly it will

Thanks @trizle... Hope the bulls are back soon ! UPVOTE + Resteem

We hope the bulls get back soon

Nice analysis, I think that STEEM needs to breakout from 4 to 4.2 to be bullish for now! Followed you since I just did a STEEM TA update yesterday !

The breakout is possible. Can I see your TA?

I did one yesterday if you check my page!

Ok I'll take a look and upvote

Dear trizle,
I have not analyzed it yet but could be correct, your predictions.
I can only tell you one thing for sure. Steem generally is on a bull trend. So it will go up and longterm looks great. I hold steem for myself and it has real potential. Hodl haha!
Yours truly, Gandalf The White

Yea you're right. Long term would be more profitable

Perfect. Yeah, it is often better.
Have a good one!