Crypto Contest November 10: Steem
Steem (STEEMUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, Steem began a wave one advance on September 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 30, and the red wave two (blue sub-waves a-b-c) correction ended on November 2. If this wave count is correct, Steem should be heading next towards the September 30 peak in the red wave three.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Steem is currently in the red wave three (blue sub-wave iii).
(Chart courtesy of Tradingview.com)
Funnymentals
No introduction needed for this coin.
If you think this analysis is correct, upvote this post and upvote the comment "Steem will takeout the September 30 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Steem will drop below the September 15 low".
If you think Steem is in a range, upvote this post and upvote the comment "Steem will stay in a trading range between the September 15 low and the September 30 peak until December 11".
You can upvote the comment until 3 PM EST November 11 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Steem will stay in a trading range between the September 15 low and the September 30 peak until December 11 (27 voters as of 3 PM EST November 11: helikopterben, flemingfarm, allyouneedtoknow, simonjay, lucasgabd, miniature-tiger, toofasteddie, glennolua, crokkon, starline, mprgrmmr, komischername, mirda, coolthings, jznsamuel, kunschj, abh12345, cassidyandfranks, carlosdaniel, richard78624, ragnaros, andy23, napkin, heidelbaer, microbanker, abay, koskl).
Since mid July it has been in a trading range...
Steem will takeout the September 30 peak (19 voters as of 3 PM EST November 11: tytran, ace108, eirik, misalen, reconnectnature, catena, dirty.hera, skririm, damla, digitalking, osmanbugra, incrediblesnow, abh12345, me-do, mihail.tsvetkov, ahinga, amfid4846, kanoe, arpepa).
Everyone in here should upvote this option, right?
If Steem heads up towards $2 I'll be happy anyway! I've put a 3c hedge in place below instead!
Yes, we should be voting this but I'd also be happy to see it at least head back that way. :)
You won.
Thank you for posting @maarnio.
bleujay appreciates these daily contests and what they bring to Steemit.
Thank you for the winnings that just keep coming.....you work hard keeping track of it all.
Appreciate the reSteem.......very much.
Wishing you all the best. Cheers.
Thank you bleujay.
You deserve the reSteem very much.
Thank you for all the support.
Steem will drop below the September 15 low (11 voters as of 3 PM EST November 11: bleujay, bentleycapital, twinner, gregory-f, tzap90, heroic15397, lasper, yefet, bluewinter, barcalogia, freskil).
@maarnio we have just recorded an episode of Crypto Nights on applying Elliott Wave Analysis to Steem!!
Be sure to check it out on @antonburton profile!!
Upvoted and followed.
Alex
Thanks Alex.
Just looked at the recording.
That is another possible wave count.
useful post
Thank you beautypics.
Steem will stay in a trading range between the September 15 low and the September 30 peak until December 11
It will probably stay in trading range. :)