SUMMARY
My long term analysis of STEEM Dollar (SBD) has not changed a bit! I remain bullish on STEEM and SBD. The shorter term assessment is shown in the below charts. The blue WXYXZ lables show that the correction is near completion. Price can still meander sideways but that would only extend the Z wave and that needs to be kept into awareness.
Closeup Elliott Wave counts show that the blue Z completion would likely require a slightly lower low. The subwaves red abc and red c's subwaves show that wave 5 still remains incomplete. Also, note that the projected bottom price is pretty close to the prior wave 2 zone.
The WXYXZ also can be more complex when the Z morphs into a triangle. The below shows this as an alternate where the last abcde waves can complete the blue Z wave.
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