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STEEM completes ugly Head & Shoulders pattern by drutter

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hive-167922 · @drutter ·
$1.39
STEEM completes ugly Head & Shoulders pattern
<h4>Don't shoot the messenger, but STEEM has just completed a head-and-shoulders pattern on the chart, thanks to a pump (and dump) surrounding the <a href="https://steemleo.com/steem/@drutter/sudden-steem-spike-over-28-cents">Tron acquisision</a> several days ago.</h4>

![](https://cdn.steemitimages.com/DQmcnsc9UYNQxAHuJoEKFMqwKw88o84cRoyhYBXKj7FfPqQ/image.png)

Maybe it doesn't signal a coming move down for prices of our cryptocurrency, but periods of higher highs and lows, followed by lower highs and lows, typically aren't a sign of strength. A break below 0.2 could be somewhat ugly. What plays out remains to be seen, of course.

<h5>Just something to be aware of. All the best to everyone in the new new era.</h5>

DRutter

![banner2019.jpg](https://cdn.steemitimages.com/DQmcKCWLWdq3gt9MbFKcHWTBX8HSdchbzGRB9PmMypKeoWQ/banner2019.jpg)

Posted via <a href="https://steemleo.com/">Steemleo</a>
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vote details (146)
@davedickeyyall ·
$0.02
Shoot him
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@drutter · (edited)
$0.04
Shoot me with a big dab right to the dome? If so, I 'shoot' back!

Going to try posting all my financial posts directly from steemleo. May give weedcash a try for all my cannabis posts, too. F Steemit, unless they get their shit together, they're useless to me.
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@davedickeyyall · 
I'm trying to figure out Steempeak ATM
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@jondoe ·
$0.02
I think the weakness will be short lived either way, just like bitcoin's.
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@drutter · 
Yes, this pattern played out over several days, so any resulting dip would play out over <i>about</i> that amount of time. (So goes the Head & Shoulders pattern theory, anyway.)

Bitcoin heading toward <a href="https://steempeak.com/bitcoin/@drutter/bitcoin-at-9900-and-ready-for-a-10x-move">100k</a> will drag most viable cryptos up, and many will themselves help lead the charge.

Hoping to recover from my 99% loss in purchasing power thanks to STEEM's fall over the past 2 years :)
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@kerrislravenhill ·
$0.03
As they say, "The honeymoons over."

Posted via <a href="https://steemleo.com/">Steemleo</a>
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