LOOKING AT VEST VALUE TO HELP FIND STEEM PRICE DIRECTION
🐒 Below is a chart showing Vests Value since July 27 , 2016 . The lowest value was $34.86 and the highest value was 1179.22.
🐒 Using The Elliott Wave Theory on the Vests Value charts.
🐒 Wave 1 up traveled a distance of $1144.36 That is the range from the low $34.86 to the high $1179.22
🐒 The Vests Value chart is currently in a Wave 2 down in my opinion . A wave 2 should retrace between 24% and 78.6% of Wave 1 with a 62% retracement being very common . A 62% Wave 2 retracement of the Wave 1 up would put the Vest Values at around $470.00 and that would be an indication to buy Steem because Steem is what determines the vest price.
🐒 Now 1 thing to remember is that vests are figured off of the Average Steem price over a certain amount of days 3 or 7 . I think this is how it is done and I wish I knew if this is right so if anyone knows for sure please reply to this post about using an avg.
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