Steem has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Steem began a wave one advance on April 7. The wave one finished on April 17, and the wave two correction ended on May 2. The wave three advance finished on May 8, and the wave four correction ended on May 9. If this wave count is correct, Steem should be heading next towards the May 8 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the daily chart, I believe Steem is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Steem will takeout the May 8 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Steem will drop below the May 2 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 May 2 low and the May 8 peak until June 9".
You can upvote the comment until 3 PM EST May 15 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). Only participants with a Reputation of 35 or more will qualify in the contest.