STEEM can easily produce a bullish wave here. It has been trading near its All-Time Low and producing higher lows recently.
Several strong moves are evident this year, one wave producing over 150% from trough to peak.
A very clear and strong consolidation pattern can be drawn using internal trend lines, the pattern being obviously bullish as all the excesses are going to the upside rather than the downside.
The strong spikes show up when whales load up. This removes resistance and once the marketwide bullish wave develops we can experience sustained growth.