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STEEM/USD Overall Chart review on Poloniex weekly candlestick

POLONIEX:STEEMUSD   STEEM / Dollar (calculated by TradingView)
STEEM started trading on Poloniex on 18th July 2016 with a low of $0.82 and a high of $4.80 and closing at a price of $3.74.

The market became bearish for 6 months from July to Jan 2017 and began to consolidate as low as $0.09 from Nov 2016 to March 2017 before a breakout on March 13th 2017 forming a partial CUP and HANDLE pattern to close at $2.40.

The bears took over the market and drove the price down to from $2.47 to $0.80.
On the 1st of 2018, the Bull were back more aggressively pushed the price up to $8.74 and closed at $6.40 with the bears pushing the price down by approximately $2.

Over the course of 4 weeks prior to the all time high of $8.74, the price entire cryprocurrency market has since been taken over by the bear due to the news of ban and regulation in S. Korea, Russia, India and other countries.

The market is in close observation with ears and eyes on the news to ascertain what to expect in coming weeks.

According to MACD , there is a bearish divergence which indicates the presence of the bears still trying to push the price down. As at time of writing, STEEM was trading at $3.70.
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