STEEM update 14.12.17 - bullish channel alert

ew-and-patterns (70) in steem • 7 years ago (edited)

STEEM is showing bullish patterns again. For the first time in months, it appears to be in a stable uptrend. This bullish channel is proof of that.

If wave 5 extends, STEEM could run up to 4-5$ very very soon. What I have shown in this picture is a conservative approach to this pattern.

This chart could still morph into a very bullish iSHS pattern. Cryptos tend to go crazy, once a bullish pattern is triggered, so a quick surge to new all-time highs would not surprise me at all.

heajin calls it "hurry up and wait syndrom of cryptos"... which I think is a pretty accurate description of theese quick surges followed by seemingly endless corrections... I like this term so I will use it, too.

image (5).png
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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. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments 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.

Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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7 years ago by ew-and-patterns (70)

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brothermic (68) · 7 years ago

thanks alot for your analysis, do i use my sbd already to buy steem or keep sbd because you told that it could go up to 34$ and above, do you see anything on the chart of sbd pointing in that direction already?

ew-and-patterns (70) · 7 years ago

SBD should be able to produce a new all-time high before christmas. I know it can be hard to wait it out and just accumulate, but that is what I am doing for sure.

brothermic (68) · 7 years ago

So no buying steem yet with my sbd?

ew-and-patterns (70) · 7 years ago

I can't tell you what to buy or when to buy or when to sell, I can just tell you what I am doing... I can't make that decision for you, sry.

techwizardry (65) · 7 years ago

$4-$5 Steem is expected by just about everyone at this point, but the real kicker will be Steem @ $10 sometime in 2018.

brothermic (68) · 7 years ago (edited)

hi @ew-and-patterns Ihad an importan question. I read a post like a month ago from someone (cant remember his name) that also use eliot-wave to predict and he said by january steem would be 5.34$ but later i will go back to 0.24$ if i remember correctly. Thats not so great news , do you see the same? do i have to take this serious? I would appreciate your toughts on this :) i am upvoting this comment to gain visibility :)

ew-and-patterns (70) · 7 years ago

No this is completely wrong in my opinion. A new all-time high and then back again to 23 cents makes no sense whatsoever from an elliot wave perspective.

machhour (61) · 7 years ago

Yess i bought 2.5K steem , i hope it will reach 5$ very soon

extraterrestrial (53) · 7 years ago

Great and exciting post! Steemit to the moon! I am telling everyone I know about steemit and it's potential. We all need to spread the word! :) All the best! :)

pbgreenpoint (68) · 7 years ago

Sweet. Steem is long overdue. It's been down for a long time while other alts were really moving up.

johnycrypto (60) · 7 years ago

Very good news and with smart media tokens coming soon will help alot
Thanks for sharing your analysis

johnycrypto (60) · 7 years ago

We talked later about leasing steem power, i lease some now, i think at the current price is worth and even better with this sbd price . What you think?

ew-and-patterns (70) · 7 years ago

Yes, I think the same.

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tomaszs77 (45) · 7 years ago

I invested in steem months ago and advice my friend to do the same. Actually he splitted his investment between Steem and SBD. That was definitely a good idea.

Just wonder why SBD went so up high? It ment to be around 1 USD.

ew-and-patterns (70) · 7 years ago

The peg is gone. They don't tell you that it is, but the chart does not lie. A coin which is supposed always be worth 1$ cannot reach 18.5$, when there is an active peg. It is now just another pump and dump coin with a ridiculously small supply. Totally undervalued in my opinion.

rizaldamti (62) · 7 years ago

I am very happy to read it, maybe this is what the steam users are waiting for, especially steemit users who have been very old,
Please permit me to post in my country language about your post, and I will mention that its content that I read in your post, if you allow, I will post this prediction in Indonesian, do you allow?

ew-and-patterns (70) · 7 years ago

I allow it, if you link my article and mention my name. Thank you for the support.

https://steemit.com/steem/@ew-and-patterns/steem-update-14-12-17-bullish-channel-alert

rizaldamti (62) · 7 years ago

Thank @ew-and-pattern

I will mention your name and include the source of your article

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riseofth (62) · 7 years ago (edited)

STEEM is hurting by exchange problem. Traders thrive on arbitrages, trade volumes and perception, STEEM needs to be inmore exchanges along with pairs.

Here are few efforts:

kp138 (68) · 7 years ago

Thanks for the update. I’m a fan of your work and Elliott Wave analysis.

tomaszs77 (45) · 7 years ago

Thanks for the TA. Good job.
Are you publishing on tradingview.com as well ?
Do you have any other TAs for different time frames ?

ew-and-patterns (70) · 7 years ago

I have but no picture of it. This 5 waves ups is gonna be wave 1 of bigger wave 3 in my opinion, while wave 1 being 2.8$ in June. Hope that helps.
No I don't publish there, because most publishers there are not really earning money. I watched some of the best and most hyped traders there for over a year, and I am happy that I did not start copy their trades.

zoef (64) · 7 years ago

Tnx for the info. Always happy to see you share your knowledge with the community. And that would be very nice for my little wallet :)

valth (68) · 7 years ago

I like this projection! Thanks for the post, @ew-and-patterns! I do hope you are right ;)

akandadelwar (56) · 7 years ago

I like and enjoy your every post. Thanks dear @ew-and-patterns for give us steem updates.

bobhaddad (37) · 7 years ago

Very interesting! Steem will keep on going up steadily since it draws in a lot of beginners who don't know much about crypto and come to steem to start the journey. But when it already has legs and starting to form a bullish pattern as the one you showed us, i think it will definitely draw in whale money for a crazy pump!

keensleigh (47) · 7 years ago

Cheers everyone! I'm sure we are all excited ^^

jahangirwifii (66) · 7 years ago (edited)

very bullish iSHS pattern Nothing to say with surety

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businesswri (62) · 7 years ago

thanks for the market analysis. I do believe Steem is going to catch up to SBD, since Steem is undervalued right now

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miguelportela (55) · 7 years ago

thats because SBD is super high and every one is buying Steem power!

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punjolife (60) · 7 years ago

very informative post. Steem is undervalued compared SBD. Let us see in near future.

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aksdwi (53) · 7 years ago

This post has received a 6.80 % upvote from @aksdwi thanks to: @ew-and-patterns.

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zikra (65) · 7 years ago

very good information sir although I do not really understand about graphics :D, but I understand a little about the world of Crypto

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sufian143 (5) · 7 years ago

nice blog

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