This post highlights the application of the Wyckoff method in the cryptocurrency market, developed by the famous trader Richard Wyckoff. This method has three basic rules:

1. Law of Supply and Demand - When the demand for Steem in the market exceeds the supply, the price can rise, while when the supply is high, the price is likely to fall.

1. Law of Cause and Effect - If volume increases prior to a price Change it indicates a large Accumulation while volume decreases prior to a price decrease may indicate a reduction in selling pressure. is

1. The Law of Effort vs. Result - The Wyckoff method does not necessarily imply a direct relationship between price and volume. In Steem low volume with large price changes can indicate a market change.

These three laws can help better understand the movement of Steem's price.