There is a pattern that I am watching right now in STEEM.
Usually an "ascending right triangle" breaks to the upside. But in this case, if STEEM does not break out to the upside VERY soon, it will break down hard.
Why? Because there could be an Elliott Wave pattern at play (on a larger scale than this ascending right triangle)
If this bigger pattern plays out, we will see at least 13 cents STEEM in the near future (fib target).
My gut feeling is getting bearish. If true, now is the WORST possible time to implement the hardfork... because it could drop hard. Please wait until we have already dropped... seriously wait with that... at the lowest point, it can only get better...
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Steem at 13 cents or less would be a complete disaster.
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Why? It would only shake out the weak hands.
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I think the weak hands are already gone.
I’m just worried about the exposure. Steem is losing ground every day. If we fall out the top100 we may never get back.
As long as the big whales dont power down, we still have a chance though.
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Steem will be Phoenix from the ashes.
But sure, we could drop out of the Top 100 for a few weeks if this count is correct.
People will not like it, but Buffett says "buy when there is blood on the streets".
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Indeed. But sometimes stocks, coins, ... just bleed out and die.
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We will see what happens, lets hope it will break out 💪
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I hoto see steem get to 75 cent soon 😀
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STEEM/BTC has been printing new lows for the past month now, with oversold conditions in the first half of May. In a couple weeks (August?) there should be a very interesting reversal.
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Decision time...
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hmm interesting
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I was thinking just the opposite - EW count expects hard drop and then comes the news about hard fork. This is excellent buying opportunity.
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Only if my gut feeling is wrong. Otherwise, they will blame the drop on the hardfork, even though it is bullshit.
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My feeling is I made a huge error not getting out of Steem at higher prices.
Could be a dead donkey. I hope it’s not but time will tell..
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STEEM bucking the market trend and going lower unfortunately
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