This is difficult, but I think the count is still correct. I think STEEM is in a complex correction and we will see one final wave down.
It looks like a corrective move, but the fact that it is taking soooooo long (more than 5 days now) reduces that probability slightly.
EW is all about probabilities and repeating patterns. I would give this final move down still a chance of 70%.
But I am not entirely confident in this drop anymore:
There is a chance that the move down is already completed and that I misscounted the last wave.
How will we know?
It will take some time until we confidently know that there won't be a final drop.
It depends a little on BTC. If BTC jumps higher soon as I expect it to, the drop in STEEM will be more likely than it is now.
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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
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Tell me what you think...
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