SUMMARY
STEEM Dollar (SBD) could be patterning out an ABCDE correction via a symmetrical triangle. The below chart shows two pathways; a D wave breakout (blue) or an E wave breakout (white). Just because the pattern is a triangle, it doesn't mean there must be 5 waves. Cryptos have a personality trait of breaking out on the D wave about 1/3 of times; similar to what ETH and BTC have done.
Now, the volume has been declining to almost a trickle. This confirms the triangle pattern. Could it trickle through the weekend and complete the E wave? Yes. However, the MACD is still moving under intense pressure put on by the ever so narrowing symmetrical triangle lines of its own. Patience and awareness are keys to any traders success!
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