RE: WHAT is going on?
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Yup, this is my interpretation of the situation as well. If you ask me, it's a good chance for some nice trades, but I didn't want to refer to anything of this sort as my posts are not to be considered investment advice.
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I don't give advice, too.
I'd expect a further consolidation towards BTC over the coming 2-3 months (market dominance >70%). But I won't trade. I just sit and observe while I continue to accumulate BTC and perhaps a small amount of steems.
Solid plan, and certainly the best move. It's always good to sell when they're buying, and buy when they're selling.