STEEM / BTC Technical Analysis May 14, 2018

Looking at the short term I believe we have just finished the corrective C wave (cyan) with a truncated 5th wave. Assuming that the correction is already complete, it looks like we have started an impulsive wave upward. However, I am prepared to buy more STEEM if it goes lower always laddering in buys and sells.

Longer Term View

Long term it appears that we are in Wave 3 of a Cycle (red Roman numerals) of Wave 3 of a minor cycle (yellow). Because wave 3 is often the strongest and never the shortest impulse wave we should see some impressive upward movements soon and likely through the summer.

I have projected out until about March of 2019 but the timing I am less confident about accuracy especially with STEEM because it seems to be a relatively slow moving crypto. So this timing could extend out further into 2019. But this is how I see the general trend. STEEM is not going away as it's very useful and innovative.

Note: If I'm long term investing in a coin I will hold a portion (10 - 25%), preferably in secure storage without trading them.

Disclaimer: This is my personal technical analysis. You should not trade cryptocurrencies without taking full responsibility for your own decisions. I will NOT be responsible for any loses you may have incurred based on my TA. Responsible money allocation is key to not gambling all your investments on one or a few trades. I am now a professional trader but am still learning the hard knocks and realities of swing trading full time. I take responsibility from my own decisions, so should you.