The current upmove could start a short squeeze in STEEM soon.
It is only a correction of the downtrend though...
This is how I predicted it:
Now let's have a closer look at the chart:
This short squeeze I am talking about has a usual target of 100% of the first upmove which equals 36000 satoshi (1.8$ at the current price of BTC), but it can go as high as 162% which equals 43000 satoshi (2.15$ at the current price of BTC).
After this upmove I expect a final wave down to at least 23000 satoshi. The most important thing to watch is that STEEM should not reach 12500 satoshi again in this final downmove, because this would kill the bullish wave count and would be very bad.
There also is a very slight chance of like 1% that we have already seen the final low of STEEM at 21500 satoshi, but right now I am convinced that this is not the case.
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BIG THANKS AGAIN FOR 500 FOLLOWERS!!! You guys are the best community ever!
If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way i see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
Nice post but I think we already have seen the lows on steem price. There are a lot of new updates and improvements coming up from the developer team in the near future, which makes the whole user experience more satisfying. Follow @steemblog to be updated on the latest news.
look my post about waves. I think is interesing currency. It have LPOS , you can earn tokens leasing your waves
https://steemit.com/cryptocurrency/@superpako/waves-plataform-and-lease-cryptocurrency
that's quite interesting (LPOS), thanks!
Nice analysis made. I for one believe in the steem blockchain more than the bitcoin blockchain as it has the potential of increasing in value more faster than bitcoin and any other cryptocurriency out there.
You are right, Bitcoin is coming close to its limits, while STEEM has soooo much potential
I just can't wait to see it happen finally.
I estimate anything between 3 months and 3 years... for STEEM to take off
Thanks for the charting and although I can't really make much sense of it, totally due to my pea brain but it's comforting and I'm hopeful that it all comes out true :) In my few short months on steemit, I have witness steem going down to less than a dollar so it will be great to see it rise to its previous glory again soon :)
that is good information...what about steem dollar?
The SBD is not important. It is pegged to the Dollar. It will fluctuate between 0.8$ and 1.3$ as it did in the past. Nothing to see here.
Enjoy seeing yr prediction, and hope your right it does seem to make sense to me, I will just keep riding the Steem Waves and hope for the best
maybe, the market cap should be lateral in the next sessions to get strenght to the next rally
Thanks a lot for this great analysis :)
Wow already hit 40500 Sat👍🏻
The natives are getting "excited" about litecoin now...the silver yang to golden bitcoin (ying) of crypto. :-) My last 'excuse" for a bitcoin mauling (fall of Silly Con Valley, Cali) didn't work...yet...so now I come back at ya with the dollah as my 'excuse." If you were "thinking about hedging" your future currency (bitcoin) with "today's" currency (the U.S. "soon to be king" dollah)...how does your heart feel about "fiat" as a hedge right now? :-) I'm tracking the dollah via UUP as well as DXY. I said it before at my blog here at steemit >>> what goes down ...MUST go UUP! :O
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=uup&x=45&y=18&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
I'll try and trade this low becuz I know the UUP call options move pretty well once they get moving. A move to my target 24.75 would cause the calls at one of the strikes to at least duble. Not sure which one yet...but the trade isn't ready yet. :-)
I will agree that all FIATs suck...including this one here.
I'll get you a REAL nice car for what you would pile into FIAT Abarth. You'll be able to pick up the one in the photo for 2 Shitoshi's when I'm finnished with it....pricing wise I mean :-)
Your reply made me laugh :D
I don't know what to think about the dollar, gold and oil at the moment. It is not really clear yet.
I don't think there is a need for hedge in fiat, because I am not holding much bitcoin. I hold BCH and many other coins, and I trade the bitcoin CFD.
good news for steem user
Good News for the Steem users
Cool
It's just a really nice place to be......I'll ride those waves with everyone here :)
Wow
We are heading to the Moon 🌚
Thanks for this important information.
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