STEEM is still working out wave 4 as can be seen in the below weekly chart. A bear flag is the likely pattern. Once complete, the blue WXY sequence should get to completion with wave 5 targeting the $0.09 to $0.12 levels. The alternate is that blue Y is complete and placed a the most recent low. However, this would need to be confirmed with price breaching the bear flag top trendline and rise towards $0.84.
Short term shows a fractal of Inverse H&S patterns. Before the prior run up, this pattern triggered the rise. The current Inverted H&S seems complete and now price needs to decisively rise above the Neckline. Given the WXYXZ triple combination that is in play; price has the potential to rise 63% rowards $0.54.
