Bitcoin yesterday didn't do much as it is still in a sideways consolidation pattern. I am very keen to watching the prices of the cryptos this week as they have been in a pretty big sideways move for nearly the last two weeks. It looks as if we are making a wedge pattern but will have to wait and see if there is a breakout in either direction.
It has seemed to me that Bitcoin is trying its hardest to keep the price low and any opportunity it has to break to the upside it is met with a giant downward move. We saw that just the other day when the price broke out of the month long downward trend and immediately fell back within the trend. It would not surprise me to see a break to the downside on this wedge and then an immediate reversal and start of the uptrend.
Now if we look at STEEM we see a much clearer break of the long term trend. As you can see this breakout is significant in that we are completely out of the downward trend however, I can see some more downside in the coming week before we see that significant impulse wave upward. I am not sure if we will see the price break that prior low but I am waiting for one more downward move before we see the reversal of the trend and start seeing significant moves upward.