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
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