Steem has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Steem began a wave one advance on May 31. The wave one finished on June 3, and the wave two correction ended later on the same day. The wave three advance finished on June 9, and the wave four correction ended on June 14. If this wave count is correct, Steem should be heading next towards the June 9 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Steem is currently most likely in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Steem will takeout the June 9 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Steem will drop below the June 3 low".
If you think Steem is in a range, upvote this post and upvote the comment "Steem will stay in a trading range between the June 3 low and the June 9 peak until July 17".
You can upvote the comment until 3 PM EST June 18 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
