On a rather unexpected move, STEEM broke the 52k satoshi line during the last 4 hours and it seems to be moving up, on a significantly higher volume. It currently trades at 57k satoshi (roughly $1.4).
As you can see from the screenshot below, there's a lot of "unfinished business" at 57k satoshi.
I'm not a professional trader and although I did some FOREX 5 years ago, I don't have a magic ball and I can't predict what I'll eat for breakfast next day, let aside the price of a highly volatile crypto currency, but my uneducated guess is something like this:
If STEEM manages to keep this position for the rest of the weekend, or, in other words, if there'll be enough demand at this level, then we can see a rally starting Monday, which will test the 64k satoshi level. That would roughly mean $1.6. At that level I see a significant volume, many hands will want out, so there might be a correction. But IF the correction doesn't go below 57k satoshi, then sometimes next week we may see STEEM tickling the 75-77k satoshi, which he briefly visited on May 8th. That means roughly $1.9 at the current Bitcoin value. As you can see there are a LOT of ifs in this uneducated guess. Still unlikely. By all means, don't take this as a trading advice. Even better, don't take any trading advice and only trade what you can afford to lose. All markets are by definition crazy.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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