$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #39, "...to the ring of fire.." Sept 08, 2016
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Sept 07, 2016
4 hour Poloniex chart - Sept 08, 2016
The price made new all time low on poloniex but with very low volume, still even with really low volume the price keeps dropping, heading down towards the ~0.001 area.
BITTREX
4 hour Bittrex chart - Sept 07, 2016
4 hour Bittrex chart - Sept 08, 2016
Bittrex also went down into making a new local low, with near to no volume.
Seems its heading towards the ~0.001 support line.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 07, 2016
STEEM/BTC volume Bittrex Sept 08, 2016
STEEM/BTC volume Poloniex Sept 07, 2016
STEEM/BTC volume Poloniex Sept 08, 2016
STEEM indexed global volume Sept 07, 2016
STEEM indexed global volume Sept 08, 2016
Coinmarketcap top volume cryptos Sept 07, 2016
Coinmarketcap top volume cryptos Sept 08, 2016
The global volume is about the same as yesterday.
Pretty low, lost a few places on the coinmarketcap rankings.
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.
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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 :)
COMMENT
Seems the price is heading towards the ~0.001 support level.
The volume is very low yet the downwards volatility picked up.
The thing with this low prices is that it might turn around at any point so I personally won't wait until the very bottom for my trades.
Hi @ozmaster - curious your thoughts on this post: Down Down We Go – And why that might not be a bad thing
Hey Oz, Who says these prices are low? Lol
Also, what will your trade be? Will you be "accumulating" steem... or just selling like most
bought.. a bit ;)
Nice :) but today later than usual
yeah, I started working on the update and nother chart, went to watch one EP of Narcos and fell asleep xD
A great opportunity for beginners to buy a lot of steem power
I agree, pretty cheap steem atm :)
As long as you can receive for this shit analysis $500, STEEM will go down.
.0001 is cheap, how about 0.0009 LOL
I'm not here for the "I told you so" line. Oh wait, yes I am. I'm sorry if I sound blunt.
Fundamental analysis trumps technical every time in crypto, it's basically the only thing that matters. The only time technical is somewhat helpful is to get a nice entry point and that's more about setting some low buys and read the markets sentiment at the time. And yes some breakouts signals are there and you can predict them with technical analysis, but for that you also need fundamentals on your side.
I've written the same thing for more than a month and you are still expecting a miracle breakout based on nothing basically. A breakout will only happen if there are some news, roadmap or an actual business plan established. The community already made up its mind weeks ago. Steem is a broken economic system. Steemit did an awful job at attracting users without looking like a complete ponzi scheme too if you ask me, promoting known scammers like TDV.
I would love for the price to go up so my power downs could make a little more money but I'm not naive.
I'm not trying to FUD either since I I'm not buying. Sorry those are my honest 0.02 SBD.
need to monitor perfectly.
We remain in the downtrend we've been in since the July bubble. My take is that it will turn around at some point, but nobody knows when so for now it's a great time to be slowly accumulating and working towards a target Steem Power. I started buying around 0.0036, and have enjoyed cost averaging my way down since then. I've got another buy order placed around 0.00086, and every time I buy I place a new order around 30% lower, then just wait for it to get hit. My goal is to invest 1000 SP total into the system, then try to accumulate more through my blogging. Don't know if it will work out or not, but I see a lot of potential in a platform like Steemit and it's got first mover advantage over potential rivals like Synereo. Just remember the golden rules of investing: never invest more than you can afford to lose, and never put all your eggs in one basket!
Wow amazing
Good time to buy.
Thanks for report. I will keep close look at when I need to buy more steem.