STEEM update 14.12.17 - bullish channel alert
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.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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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.
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Have a nice day :-)
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?
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.
So no buying steem yet with my sbd?
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.
$4-$5 Steem is expected by just about everyone at this point, but the real kicker will be Steem @ $10 sometime in 2018.
hi @ew-and-patterns Ihad an importan question. I read a post like a month ago from someone (cant remember his name) that also use eliot-wave to predict and he said by january steem would be 5.34$ 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 :)
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.
Yess i bought 2.5K steem , i hope it will reach 5$ very soon
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! :)
Sweet. Steem is long overdue. It's been down for a long time while other alts were really moving up.
Very good news and with smart media tokens coming soon will help alot
Thanks for sharing your analysis
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?
Yes, I think the same.
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.
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.
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?
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
Thank @ew-and-pattern
I will mention your name and include the source of your article