Blue wave 4 is likely done, so here is the update I promised:
A bearish SHS pattern could be forming very soon. The minimum target from this pattern would be 13000 satoshi.
At the end of this downtrend I expect a HUGE 1 hour buying candle. So unless I see a big candle at the end of expected wave 5, I will assume the downtrend to go on in an extending wave, which can never be predicted accurately before seeing it.
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If you think this to be useful information:
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.
If you make any trades 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.
Tell me what you think...
Have a nice day :-)
You are very bearish my friend :(
I don't use Eliot Waves for my TA so it is difficult for me to comment your TA but my opinion is that if we don't break the long term support line, there is no drama :
Take care.
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I know this picture in STEEM/USD. I actually supports my analysis quite well. I think we will see a short break of this trendline at 85/80cents and then a huge buying spree all the way up to over a Dollar again. This will hopefully start the next upmove.
I use STEEM/BTC chart, because the waves are clearer and cleaner than in STEEM/USD.
Thank you for your support. Take care.
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Yeah I think also all this will finish with a "Head Fake" followed by a massive buying volume. So, even we are using different indicators, we are kinda aligned.
I wish you the best in your trading ;)
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Thanks for the analysis!
I have bought Steem the whole way down (on Bittrex). sigh I still believe in it though and I will continue to buy it, but I really can't wait for it to shoot up in price!
Thanks again!
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I bought steem at .95, is this a good price? Would it come down further to the .80's?
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This is a good price. 80 cents is still possible, 50 cents only if the wave down extends. At this point I seriously doubt that this will happen.
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Restem post
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good post ew and -patterns
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steem price is killing everyone out 😢
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Your post may be very good to follow you if you want me to upvote, otherwise there is no problem
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This post received a 3.7% upvote from @randowhale thanks to @ew-and-patterns! For more information, click here!
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