Looks like wave 2 of the elliot wave has been completed. I have counted the waves down and this count fits. The C sub wave has found support on subwave 1 of wave 1. Also, subwave 4 of 1 had support. I show it here with the red line. The MACD and RSI are showing bullish divergence on the daily chart. Wave 5 could bring Steem prices as high as $22. A low end wave 5 would bring in about $15 and wave 3 would then be $10. Since wave 2 retraced a lot wave 4 will not retrace much. For this count not to be correct it will need to drop lower than the C wave of $2.20. As wave 3 progresses we'll get a better idea of a wave 3 top which ultimately will help show a wave 5 top more clearly. Good luck!
Conservative wave 3 TP $10.29
Conservative wave 5 TP $15.01
Aggressive wave 3 TP $15.01
Aggressive wave 5 TP $22.64
Conservative wave 3 TP $10.29
Conservative wave 5 TP $15.01
Aggressive wave 3 TP $15.01
Aggressive wave 5 TP $22.64
Kommentera:
BTW This idea is very long term