# Steem Breaks Out!

The triangle pattern that has been forming on STEEM has broken out! @haejin posted about it [here](https://steemit.com/steem/@haejin/steem-s-pathway-to-usd6-40-looks-like-this) just yesterday, and today we have seen the result of the triangle pattern:

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1514824205/f7yackuuwhzw8limibsd.png)

MACD gives us a bullish reading, but the RSI is a ___little___ overbought on my 1 hour chart. So we may see some resistance and/or consolidation in the shorter term, but longer term this is a great sign that a new wave higher is on the cards!

# Happy New Year Steem!

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For more great technical analysis and crypto related posts, see also: @toofasteddie, @gazur, @ew-and-patterns, @pawsdog, @cryptomagic, @exxodus, @beiker, @allthereisislove, @lordoftruth, @masterthematrix, @cryptoheads and @tombort
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> Not intended as investment, financial or trading advice.
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