We shared a chart for Steem (STEEMBTC) on the 17-Oct., right after Steem started to grow and hit multiple targets... A strong retrace followed and a new all-time low was hit:
We can see a fake breakdown as well on the chart above. Support was broken just to see the price move back above it right away... This is a bullish signal and also a signal that points to an upcoming change of trend.
So we are not only looking at hitting multiple targets and then a new low but instead a sustained period of continued growth.
Previous analysis:
The charts are always changing/evolving, what we are seeing now can be completely different in a few weeks or days. So, remember to have a plan if you decide to trade.
@alanmasters, for btc am not sure but alts I see big crash coming so btc either big pump that will crash all alts or big crash that will drag all alts but I think btc is going down too
AlanSantana
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@Nagat, What about all the alts that already did 100%+, 200%+, 300%+, etc.
If you think about it these already change trends.
If the entire altcoins market was going lower then something like this can happen, but with most of them now breaking out and so many in the green, it is hard to see this happen... Unless you have some signals or information to share to back this up...