We are now seeing Steem at its bottom, this is the lowest Steem has been since summer (May,June & July 2016).
Short term we will see a retest of the 0.00001094 BTC level, we should break above this level as well as the 50 MA.
From here we will see a run to the 0.0001242 level which has been support for the past few months.
I see consolation coming between these...
A long term wedge looks to break sideways, expect upward trend. First touch will most likely reject the level, sell at that point and buy back lower, second attempt will look to gain that support. After which it will target the next level. If it fails again we could see it return to the established support in the current channels.
We should now start to see money coming back into altcoins again and I think STEEM is ready to make the next impulse up.
The idea behind STEEMIT is great and I can see the platform becoming more and more popular once it moves out of beta. I personally think that it will become a legitimate threat to Facebook and Twitter and will spearhead the next generation in...