The current upmove could start a short squeeze in STEEM soon.
It is only a correction of the downtrend though...
This is how I predicted it:
Now let's have a closer look at the chart:
This short squeeze I am talking about has a usual target of 100% of the first upmove which equals 36000 satoshi (1.8$ at the current price of BTC), but it can go as high as 162% which equals 43000 satoshi (2.15$ at the current price of BTC).
After this upmove I expect a final wave down to at least 23000 satoshi. The most important thing to watch is that STEEM should not reach 12500 satoshi again in this final downmove, because this would kill the bullish wave count and would be very bad.
There also is a very slight chance of like 1% that we have already seen the final low of STEEM at 21500 satoshi, but right now I am convinced that this is not the case.
BIG THANKS AGAIN FOR 500 FOLLOWERS!!! You guys are the best community ever!
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 :-)