STEEM / USD continues to follow 60d pattern (0.206 USD / STEEM now, trending to support level of ~0.18)

Previously I posted that based on last 4 price drops over ~60days, declines averaged ~45% at low point.

"the four drops over the 60 days were 41%, 39%, 43%, and 57% for an average of 45%. If we were to project this out, the trend would suggest that there is more downside potential before a significant bump up. Under this model, the current price of 0.2330 / USD would continue towards 0.18 (if we take a 40% lower as our valley), or 0.165 if we use the 45% average for the 60 day period."
Full link here:
https://steemit.com/steemit/@luup/can-this-basic-technical-analysis-identify-steem-crypto-currency-price-trends

Additional to the above, if we remove the last significant drop (57%) the average decline following a price increase is closer to %40. This aligns with a STEEM/USD price of 0.18.

Upside Price Correction Coming Soon?

Thus, should we hit 0.18, then according to my simple model (loosely based on Fibonacci and ~60d trends) may result in a sharp 35% (on average) increase.

It is still yet to be determined if the longer term trend (or even 60d trend) will inflect upwards...although all other things being equal, any of the next corrections may signal such a trend. Let's see what happens.

DISCLAIMER The is first time I have ever done this kind of analysis (even though it is quite simplistic). All information is for education and discussion purposes only. Please do your own research analysis for any financial decisions .