$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #64, "Ooooh where do we go now" Oct. 04, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 03, 2016
4 hour Poloniex chart - Oct. 04, 2016
1 day Poloniex chart - Oct. 03, 2016
1 day Poloniex chart - Oct. 04, 2016
After yesterdays bounce the price got pushed down from the ~0.00076 resistance spiking down through the ~0.00071 support line where it was trading around the whole day and still is.
BITTREX
4 hour Bittrex chart - Oct. 03, 2016
4 hour Bittrex chart - Oct. 04, 2016
After spiking sharply through the ~0.00078 resistance all the way to ~0.0008, the Bittrex price came down to the ~~0.0007 support line spiking through it briefly in the last couple hours.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 03, 2016
STEEM/BTC volume Bittrex Oct. 04, 2016
STEEM/BTC volume Poloniex Oct. 03, 2016
STEEM/BTC volume Poloniex Oct. 04, 2016
STEEM indexed global volume Oct. 03, 2016
STEEM indexed global volume Oct. 04, 2016
Coinmarketcap top volume cryptos Oct. 03, 2016
Coinmarketcap top volume cryptos Oct. 04, 2016
Overall volume about 25% lower then yesterday, $STEEM on 16th place on the volume rankings.
Poloniex volume about 25% higher then yesterday, ~107 BTC.
Bittrex volume about 30 % higher then yesterday, ~43 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
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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
The price has violated the swing low and went down to the ~0.00071 support making a double bottom here.
A bounce is still in play but a chance of another drop has slightly increased. I'm still in more favor for the bounce, as long as the price holds the all time low from Poloniex.
In case of a downtrend scenario I would expect :
Support to build around the support levels from Bittrex (which in the past has seen lower prices and has more history). ~0.00065 being the first support level I can see, which would also be my target for a trade.
We went through the September 21 low.
yea :( quite a heavy dump,,,,
It is trying to decide if it wants to hold below or above the September 21 low.
Here's to you being right! I layered in a few orders at these levels, not really expecting more than maybe the first two to trigger. BAM BAM BAM, down to one more layer. I wouldn't mind picking it up, but I wouldn't mind the bears hibernating for a bit now either. :)
Love your analysis. I am holding strong and buying these dumps believe it or not. I believe in this platform long term. We are pioneering something special here. Thats just my opinion.
Resteemed
Thank you!
Trust in steem & cryptos :-)
Judas Priest! |m| (0_O) |m|
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