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SUMMARY
The video has tons more details than this summary!
STEEM has decisively breached the upper resistance line of the channel. This channel had entrapped STEEM for so long! Now, the action begins! I've laid out the Elliott Wave price pathway and show how they were delineated. Wave 3 is 1.618 the length of wave 1 and wave 5 is equal to the length of wave 1.
The Fractal comparison of STEEM to ZEN can be used as a guide for what next to expect for STEEM price! Similar to ZEN, STEEM should continue going vertical towards $3.50 or so.
I am using the SBD actions as leading indicator for STEEM. I've drawn out the Cup & Handle pattern. As SBD hit $18.68, I can't see why STEEM can't...in fact STEEM could well exceed $14 and $18 and $30, IMHO!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
I agree with you analysis. I am not that into technicals, but this breakout looks strong. I supposed $3.5 is modest. If SBD markets gives a clue, <$5 would not surprise me.
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Upvoted & resteemed!
I ordered Steem after trying to withdraw with ETH looks like ETH network is clogged and CEX.IO is taking a long time to process it. Which is usually fast among the following currencies.
ZEC, DASH, BCH. I can buy this easily from CEX.IO but it takes time to send this to Binance and Poloneix.
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Ethereum network is clogged with Cryptokitties. Think about that for a moment. A popular online game brings the entire Ethereum network to a screeching halt. Clearly it is not ready for the big time. However, the competing technology EOS will out perform it on day one for transaction speed and volume.
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SBD is performing fantastic. Lets hope the same for Zen and Steem. Feeling bullish!
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@haejin after steem hits $18 be prepared because you will be in the top of the headlines for the major newspapers in the world, by not saying cnn, abc, and all important news channels around the world. You will be interviewed by a long number of people that will ask you how you were able to predict all this.
One question for you? As @stan mentioned, do you agree as I do too, that once BTC and ETH get into a big bottleneck, all funds will start to flow to the big 3 (bitshares, steem, and eos), that are the blockchains that can truly deliver transactions, even more than VISA?
Your thougths are greatly appreciated for the steemit community as well as your followers. Thanks for keeping as very well informed about the updates in the most important cryptos, and for all the technical analysis you are doing every day. This is a great contribution for the steemit community.
Regards, @gold84
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I would agree with you at some point, people will wake up to the existing tech, BTS, Steem, EOS, that can already out-perform BTC and ETH.
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@leoplaw agreed on your point! Upvoted your comment. @gold84
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Cheers! An upvote on your comment. Sorry my voting power is down.
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Man Life changer
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All this steem action. I’m gonna take my son into the steem trains near my house to celebrate this weekend. All board. !!!!!steem!!!
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Get ready for more SBD action!
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Impressive @haejin. Thanks for your infomations
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Why did you not recommend SBD? I know they are connected just curious why you focus on steem?
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Because SBD is made to be near $1 forever and no one knows why it is growing so much high. You can compare SBD with Tether friend!
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Its impossible to make a coin to be worth X-amount.. When you put yourself on the market where there are buyers and sellers, price will fluctuate or decrease. Its worth what people are paying for it... Now its a stock and an asset.!The market tells you what a coin is worth and nobody knows where this ends. Do you think bitcoin gurus or satoshi himself knew bitcoin would be worth $16000? I don't thinks so..
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Then how is tether always $1 ?
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It is equivalent to 1$ on steemit and any amount outside steemit.
yesterday I transferred 2 $BD to Bittrex and only 2$ was deducted from my steemit account, I then used it to buy 12.9 Steem which increases my account with much more than 2$
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Yes, but there is nothing to restrict it. Nothing.
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This blog is based almost solely around requests. More people request other coins. I have rarely, if ever, seen a request for SBD.....until now of course.
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Been reading my new Elliot Wave Book [PDF version].
The more I learn about this more confident I feel!!
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haejin, as always another outstanding very in depth analysis of STEEM and other altcoin relationships and comparisons. Very impressive.
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Good post....
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Great post, thanks for breaking it down like that
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✨ 🌟
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https://steemit.com/bitcoin/@demphil/start-generating-bitcoin-its-free-and-true
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But why is SBD so high and how long can it stay high. Isn't this inflation a bad thing.?
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like your sharing
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Still looking to understand the SBD, steem and btc relationship. Lol
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i'd like to invite you onto mspwaves radio this sunday night anytime from 9-11pm Sunday night (0200 UTC).
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Cant wait im loving this so,much!!!
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Hey, thanks for all the great work. Can you look at Hemp coin.
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Can you do an update on ZEN? I think i'm seeing a triangle similar to the one before the big breakout but I think there needs to be more time for a bigger picture/trend to set in. I'm hoping it performs, as this would give me profits to pour into what I call the "Dan Larimer Portfolio": Steem, EOS, Bitshares and BCO. Hopefully I can catch the waves up or on the way down, (if there is one! lol). Thanks @haejin.
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Much appreciation for your hard work. Thank you also to your family for being supportive of your efforts!
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