1 $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #50, "Then I saw Ned's hairs, now I'm a bee-liever " Sept 20, 2016
Hello Steemers!
Apologies for not making the yesterdays update, had a busy day and just fell asleep when I came home.
Update #50 and steem still exists,trades with healthy volume, hoping to see Steemit keep developing and improving, glad to be able to take part in something evolutionary like this.
POLONIEX
4 hour Poloniex chart - Sept 18, 2016
4 hour Poloniex chart - Sept 20, 2016
1 day Poloniex chart - Sept 18, 2016
1 day Poloniex chart - Sept 20, 2016
After an unsuccessful bounce try the price went further down breaking into new all time low hitting the ~0.0007 support level of Bittrex where it is trading at right now.+.
BITTREX
4 hour Bittrex chart - Sept 18, 2016
4 hour Bittrex chart - Sept 20, 2016
The bittrex price hit the 0.0009 resistance level and from there got kicked down breaking the next 2 support lines and finally hitting the ~0.0007 support line, at the moment still trading slightly above it.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 18, 2016
STEEM/BTC volume Bittrex Sept 20, 2016
STEEM/BTC volume Poloniex Sept 18, 2016
STEEM/BTC volume Poloniex Sept 20, 2016
STEEM indexed global volume Sept 18, 2016
STEEM indexed global volume Sept 20, 2016
Coinmarketcap top volume cryptos Sept 18, 2016
Coinmarketcap top volume cryptos Sept 20, 2016
Overall $STEEM volume about 75% higher then 2 days ago, making $steem clibe back into top 20 on the volume ranking.
Bittrex volume about 80% higher then 2 days ago ~ 33 BTC.
Poloniex volume about 97% higher then 2 days ago ~ 197 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
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Please post the links to your TA's posts into the comments as well!
DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ :)
SPECIAL DISCLAIMER AND THANKS
There was no harm intended to be done to Ned's hairs in this update.
Jokes aside. Thanks for coming up with such a great idea as Steemit, I hope you will develop it and run it in the best way for the whole community!
COMMENT
![](https://steemitimages.com/640x0/http://puu.sh/rhFwk/a3a8e88d9a.png)
I expect a bounce here, in my eyes this could be a solid turning point, if not a turning point at least a bounce.
but since the downtrend volume n the last 2 days have shown strong I still see a decent possibility of the price going further down to the one of the 3 purple lines beeneth it where it should finaly find firm ground to bounce from.
off TA comment
for everyone who might wonder, I'm accumulating steem not only cos I see the potential in the markets but also cos I believe in the idea of it.
I would be surprised if it bounced now:
a) large sell order pending (I learnt today about 200k SBD to fund STEEM fest)
b) Synereo Fundraising Campaign started today with a 24h bonus for early birds. I see a chance that buyers will fly there, at least for a while.
Hey thanks for posting today's update. As import blogging is no one will die if your update doesn't go out. Well I hope not anyway.
When will the downtrend end?
I think looking at volume isn't as important as it might be with other commodities. The lower the price goes the volume will have to increase to get the same about of "dollars" out of the currency...
Today I sold my STEEM in Bittrex. I lost 45%...
I bought STEEMs for 4 BTC when it was at ATH, around $4/STEEM. So... 90% and counting. That money is gone forever, and I'm at the point of holding my position indefinitely as a personal punishment, to remind me never to run head over heels into something no matter how good it sounds.
Too bad you did not powered up!
Same position as you, although it was 1 BTC, it was my early days of learning about crypto and trading. A lesson learnt, so I'll be holding for quite a while.