RE: STEEM Price Analysis – May 15, 2017

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STEEM Price Analysis – May 15, 2017

in steem •  8 years ago 

It actually looks like a consolidation of rise and its preparing to rise again. Rather than a bearish wedge its a triangle waiting to be broken upside.

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8 years ago by

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      ·  8 years ago 

    Yeah, it's certainly consolidating, there's no doubting that. The question is whether or not there is room for another dip below current support. Even within a larger bullish market, you'll find bearish patterns. That's always something to keep in mind about the context of these posts. These are mostly posts about short to mid-term price movements.

    And if the price is going up, I'm OK with being wrong about where I think it might be heading. Right now, it appears to be breaking out. It just cleared all the way up past 48K satoshis. If it can hold above 45K now, I'll be good with that.

    Thanks for the comment.

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