Steem seems to have formed a symmetrical triangle on the daily chart similar to what is seen on LTC and OMG (please see link below). The conditions of the symmetrical triangle is very common to what was published for LTC 7 OMG. If there is an outbreak to the upside, prices can potentially reach $12 to $14. This should be achieved between June to July as long as BTC keeps moving in the upward direction.
MACD on the daily is has crossed over which is a good sign of things to come.
The following conditions have been met for the symmetrical triangle.
- The general trend of Steem is to the upside. We have consolidated in the triangle after a bullish move.
- The triangle has been formed with 3 points on each side.
- We can see the volume reducing
- The triangle has a duration of 3 months starting from January
- The breakout will be occurring at least 3/4 of the way through the pattern
Still waiting for the following.
- We are still waiting on the breakout direction. We need this to be to the upside for the prediction of $12 to $14 to be achieved.
- We are still waiting on the breakout confirmation.
These are just my opinion. DYOR before using anyone's opinion for trading.
https://steemit.com/cryptocurrency/@gbksa/omisego-to-hit-usd40-to-usd45-around-may-2018
https://steemit.com/litecoin/@gbksa/ltc-formed-symmetrical-triangle-on-daily-usd470-to-usd500-potential
Hey @gbksa, gotta love Steemit! Still awesome platform and community and it's nice having great people contribute so we all benefit. Keep up the good work! Cheers!
Thank you @exxodus You are right. Amazing platform and community. Pretty new to it myself but starting to love it.