TA doesn't even consider underlying business. Capital gains is the traditional incentive for investing, but Steem allows ~90% of the value of the business to be extracted by profiteers through rewards. This business is content creation, and that is what markets Steem as well, by attracting a market via that content and enabling new investors to buy Steem, creating capital gains.
Consider that is currently powering down, and that EIP will increase the profit extracted by profiteers by another 40% of the remaining ~10% shared by the actual producers of the product of Steem. Wiggles on charts won't reveal what that will do.
Common sense does.
RE: HF21 and the Steem Vision