![STEEM 2-9.JPG](https://steemitimages.com/DQmVD9xokcXezdSHQubY6LUneCJC9w2KajitiCttQDEJ8Xj/STEEM%202-9.JPG)

On the last update I made on the STEEM, the price had completed the first wave of the impulse at 1 which was about three days ago. 

The price has already flagged at the support level around 2. I had predicted that there was a decent chance of a flag occurring last update.

![STEEM flag 2-9.JPG](https://steemitimages.com/DQmXLLwWMBnNQVpa15f7eeetodA2tVc78rC8L1heas8PdrT/STEEM%20flag%202-9.JPG)

As of now, we are going through 3 in the impulse, and we should expect to see another bull flag at the 4 area in the next few days. 

If this does happen, I would also like to see a break of the 100 and 200 EMA. This would confirm the breakout into the 5th wave. 

The MACD is looking bullish, we have been able to stay above the signal line. 

**Conclusion:** I am expecting a large move to the upper 5.50's within the next week, which would complete the 5th wave of the impulse. Of course, as with most altcoins, it depends on the movement of Bitcoin as well. Bitcoin has been breaking out currently, and as long as it continues to do so, I can see STEEM hit the 5th wave easily. 

![UFR.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/UFR.gif)

_**Disclaimer: (I am not a financial advisor, do your own due diligence when investing in cryptocurrencies. This is just my speculative opinion.)**_