Bitcoin took a small dive shortly after my last post from the peak of $3490 down to about $3250. Steem unfortunately did not react to the drop, but continued to sell off as Bitcoin prices rose. The inverse correlation continues as Bitcoin prices have rallied to $3788. I expect the rally to continue over the next few days to $4000 before a possibly sharp sell off-which will be seen as a buying opportunity. There was a pump in Steem prices, but so far no continuation, which leads me to believe Steem still has some downside left. My next downside target for Steem is .00027 Bitcoin. I plan on buying more at this price depending on the market sentiment. I am very likely wrong in my views in one way or another. Market conditions change constantly, therefore short-term positions must be constantly re-evaluated.
Below are two images from Trading View showing current price targets.
