STEEM starting it's next bullish move up
STEEM looks to be starting another move up
It remains to be seen whether this move just gets back to the top of the trading range it has mostly been in for months, or whether it blasts through it like we have seen a couple times over that same time period.
Either way though, the short term bottom appears to be in judging by the latest price action.
Check it out:
(Source: https://bittrex.com/Market/Index?MarketName=BTC-STEEM)
We have consolidated that entire move up.
Now the technicals are reset and ready to rock.
Where do you think the price goes in the short term?
Stay informed my friends.
-Doc
I don't think it has enough momentum to go up yet...
It will likely just go to the top of the trading range it's been in, but some quick pump is not out of the question either. It's already happened several times within the past couple months.
Eventually it will build up enough momentum, but now it is just making small ups and downs... I'm not saying how long it takes to build the required momentum as I'm no longer actively trading on Bittrex for reasons I have mentioned too many times already...
To be honest, I think it's going to remain super hard to predict what Steem will do until 13-14 weeks have passed since March 20th, and everyone on both sides of the equation are done with their power downs and power ups.
Then what happens?
Already six weeks have passed, if this power down has anything to do with the price I think at the beginning of June we should see where we stand.