I can confirm a correcting wave has formed and in my opinion, it can rise to Fibonacci resistance level 2 or maximum 3, as mentioned in below chart as R2 and R3, in Fibo column.
after finishing this correction wave, we should expect another fall to complete the bearish market we are in, or seeing a reversal in the trend, which I see unlikely but possible.
What I hope for, is a strong reversal instead of weak momentum for just gaining back some of the massive losses STEEM has made against not only USD, but more importantly versus BITCOIN and other altcoins.
I hope for it as it resumes the rank STEEM had in cryptocurrency market cap chart and even climbing up to the top 10.
This is not a financial advice and I'm not a financial adviser. I just express my thoughts on the market based on very limited experience I have about chart analysis and behavioural economics to have your comments and feedbacks to learn more from you.
nice little dump today
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yep, traders like fluctuations 😉 but a solid reversal to bullish market is really needed!
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i pray steem flies high in price... anything over $3 and I will be a happy camper
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you might need a lot of patience, but it worth it 👍
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We're seeing some real steady growth in the last few weeks, quite surprised no ones been more up beat about it, really hope we see this trend continue consistantly upwards.
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you are right, I'm one of those who is still bearish.
well, this is market... corrections and trends.... and ofcourse mistakes!!
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@honarparvar, Thank you so much for sharing this Opinionated Analysis and i am not an Price Analyst so nothing towards it but as an Full Time Steemian and Steem Enthusiast want to see boost in the prices. Keep up and stay blessed. 🙂
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Thank you Chiranjeevi, I understand your concern, same here, as I hold Some STEEM POWER.
but it's important to realistically expect price changes. personally believe IF steemit team as a major player for steem blockchain act right (including top witnesses) with policies affecting the economy of steem, and proceeding with SMT which will hopefully result in larger adoption of STEEM tokens, we will see big gains on STEEM vs other coins.
and about the crypto prices against USD, I believe this bearish market will last 2 or max 3 quarters. so we just need some more time 🤞
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It’s hard to bet on SMT these times.
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true, it's not easy... but not too good to be true!
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Thank you so much for your kind response brother. And i am well aware of the situation and enjoyed this Roller-coaster journey of 15 months and will continue because i am watching the bigger picture that's why i became Full Time Steemian. Good wishes from my side and stay blessed. 🙂
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The position of this blockchain should improve but I believe the bear market is not yet done.
Posted using Steeve, an AI-powered Steem interface
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sure, I do agree with you 👍
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Steem has plenty of room to grow. Will buy some more in the upcoming days.
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And plenty room to fall i guess
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good luck 👍🤞 i do agree with the potential. it can become the largest social media.
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You got a 47.78% upvote from @brupvoter courtesy of @honarparvar!
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