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RE: Steem Breaks Out Of Triangle Pattern - Up We Go!
You spot the triangle right (or haejin was first) but what trigger a breakthrough through the resistance line is hidden inside a triangle. this is a harmonic pattern ABCD indicating that price move will follow. Check my analysis here #1. I start a serious of Steem price predictions, because we are Steemians.
One more remark. Support line in this triangle is very weak. It's defined with just two price dips far apart. More dips or picks define a line stronger it become. In my analysis I even not draw support line of a triangle.
I'm still learning EW theory so I missed that. Awesome post @tombort!
Yeah you're right! I thought the triangle looked a little weak too, but it seemed to follow it pretty well. :-D