Hello STEEM Followers,
STEEM completely under pressure right now. Here's my thoughts. The previous cycle (low to low) was 18 days. For this cycle, the high was 8 days, so this is not looking good for a strong right translated cycle, but still possible. Price can definitely form as a left translated cycle, meaning, it may go lower than the previous low at (2.7).
If trading, exiting STEEEM below the 10 MA was the right call. I did not post that opinion since I am holding for the long term and I currently have my STEEM Power locked up.
Lots of uncertainty in my mind. If the BITCOIN bubble bursts, 2018 will be a slow grind to much lower prices. This IS VERY possible. Let's hope it bounces from the 50 MA.
Good investing.
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I am not a financial advisor in any shape or form. The contents in any of my posts are merely opinion alone. I'm simply stating opinions.