Steem's Technical Chart Setting up $4 USD by Year's End!

As a market analyst, part of my job is to look at chart after chart for a litany of traditional investment vehicles (ie. stocks and bonds). Largely, the work is monotonous. However, after integrating myself into the psychology of Wall Street, I've noticed patterns or trends that repeat, irrespective of the underlying asset.

With the Steem currency, I can't help but see a "rounding bottom" pattern. It describes a publicly-traded asset that experiences a sharp spike up in demand, then quickly collapses. During this negative valuation phase, the asset steadily "accelerates" towards an anchor point, an inverse apex if you will. This is the point where all the bears and weak-hands have exited the asset.

What's left are speculators and investors that want to reengage the battered asset. At first, momentum is shallow -- simply put, there's not much interest here. But over time, other investors start considering the asset. The valuation begins to pick up steam (or Steem!). Eventually, the kinetic energy generated by ever-rising prices encourages all other investors to come out of the woodwork. Before you know it, the asset has reached its previous all-time high, and is ready to break new ground.

Again, this is exactly what I forecast for Steem during this year. In July of last year, Steem broke past the $4 level briefly. It then underwent what can only be described as a horrific erosion of market capitalization, with the Steem currency falling under a dime.

But in the past few months, and even weeks, Steem has generated unbelievable momentum. Not that I am the arbiter of all things cryptocurrency-related, but my small, speculative procurement of Steem has more than doubled in a month. In traditional markets, you're lucky to break double-digits in a year. With Steem, I hit triple-digits in less than 30 days.

That is an unreal catalyst, but we're really just scratching the surface of the surface. Yes, Steem will gather momentum and shoot higher -- I have a high degree of confidence in that. But the Steemit community is also attracting members -- articulate individuals who are passionate about the life-changing differences that Steem and Steemit can inspire.

I'm just a one-man opinion show here, but I think we're setting ourselves up for $4 Steem by year's end.