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Until it's break the short term downtrend line looming from highest peak on march 2019. i expect this bearish trend would occur toward each support i line out on each fibonacci line.. even if it's broke that orange trendline.. STEEM/BTC still in massive down trend on higher time frame.
Estimated toward Q4 of this year until 2020 would be meet this massive down trend since 2017 and if the price manage to broke the latest massive uptrendline that had been broken on 7000 satoshi. Until then, bearish trend still is.
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Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion,
and please feel free to share what your thought on comment section.
peace.
You are one of the guys measuring Steems's value in the correct way, namely in BTC. Only related to it's peer, the downward trend is fully visible.
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Thanks for the charts, I see similar scenario for steem/btc. It getting very close to the bottom and while looking at btc dominance, it could be reaching the top. So overall, could be a very positive scenario for alts.
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i agree to you about btc dominance chart is near ATH 2017 and positive scenario for altcoin itself IF btc dominance could fall away from the top. we will see how it's follow up next several candlestick. alot of obstacle for btc.d toward 2017 ATH.
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