SUMMARY
I know many have put their hard earned cash into buying more STEEM or STEEM Power. And the dragging on and on and on of this correction is causing many to become frustrated. How is it that STEEM is taking so freaken long?
I've labeled an innate trait of Cryptos as "Hurry Up & Wait" syndrome. You see, every crypto has this syndrome, it's genetic imprinting. Cryptos all tend to hurry up on the impulse Elliott Waves but then get real slow on the corrections. That's exactly what STEEM is undergoing...the slow phase.
So, what to do during this slow phase? Have some ice cream! Write more good Steemit blogs and quit staring and keep checking on the STEEM price! IF you see how ZEN has given MASSIVE profits with near identical chart pattern as STEEM, patience is warranted. One might consider adding at such attractive prices because once STEEM breaks out of the horizontal channel...it won't look back or revisit current levels. Much of Technical Analysis requires a immense dose of emotional maturity and for those who are lacking, it teaches it in spades!
The chart below is the grand Chalice of Wealth! I've added a forward discernment price pathway with perhaps a miniature rounding bottom or even a small cup & handle pattern...but what is very clear to me is that $4 won't be too far off into the future.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**