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**SUMMARY**

STEEM is the Chalice of Wealth! My analysis expects this Gem to provide 14x current price and some. I show a high resolution chart-microscopy of STEEM using Elliott Waves & Chart Pattern Recognition Algorithm to identify probable price pathway.

The 30 minute time frame chart below shows circled blue waves peaked yesterday at around $1.11. Since Elliott Waves states that after five waves, a requisite three wave correction must take place, the chart also clearly has these waves marked as circled red a,b and c. The red circled c wave is also further labeled in detail with its five sub waves as shown by parenthesis white 1,2,3,4,5. Therefore, if these five subwaves of the red c wave is complete, then the requisite three wave a,b,c correction could be complete. The yellow waves 1,2,3,4,5 project a discerned price pathway up.
![](https://steemitimages.com/DQmYT5m62jnD3D5vFQe82Yj5xomnAdgXLvzhdfWwtnYm5Tc/image.png)

There is a chance that a smaller lower low could still be made as shown below. This changes little to none on the projected price pathway. It only requries an update of the subwaves of red wave c.
![](https://steemitimages.com/DQmNVBz1sXH9xDGatQaMhbNuph7VmNHzTUF3kSJ3UXh5to2/image.png)

The chart below displays a longer term perspective. I always combine chart pattern with Elliott Waves. To that ened, note th bullish flag (parallel white lines). This pattern portends higher highs to come. The white waves 1,2,3 clearly outlines most of a complete impulse direction at a higher degree of trend.
![](https://steemitimages.com/DQmV1VmJCUGcckdAoXBYMQQ3RiuvT6GFnpp7Y5YdmCSw6Xk/image.png)

https://youtu.be/tCEIYJVOjsA

Please consider reviewing these Tutorials on:
[Elliott Wave Counting Tutorial](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 
[Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves)
These Technical Analysis Books: [Elliott Wave Priniciple & Technical Analysis of Stock Trends](https://steemit.com/bitcoin/@haejin/n98sk-haejin-s-ta-book-recommendations-for-elliott-wave-and-chart-pattern-recognition) are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66


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**Legal Mumbo Jumbo**: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.** </center>