There is a pattern that I am watching right now in STEEM.

Usually an "ascending right triangle" breaks to the upside. But in this case, if STEEM does not break out to the upside VERY soon, it will break down hard.

Why? Because there could be an Elliott Wave pattern at play (on a larger scale than this ascending right triangle)

If this bigger pattern plays out, we will see at least 13 cents STEEM in the near future (fib target).

My gut feeling is getting bearish. If true, now is the WORST possible time to implement the hardfork... because it could drop hard. Please wait until we have already dropped... seriously wait with that... at the lowest point, it can only get better...

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, Hive account@ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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