$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #16 "Let's see what you got!" Aug 15, 2016
Hello Steemers!
Today the we have seen some sideways action, so far no serious sign of the bears, did the bulls break into a new trend?
POLONIEX
4 hour Poloniex chart - Aug 14, 2016
4 hour Poloniex chart - Aug 15, 2016
After making a new local high the prices backed down to the first support line, the bottom line of the previously marked swing low, but with near to none sell pressure.
BITTREX
4 hour Bittrex chart - Aug 14, 2016
4 hour Bittrex chart - Aug 15, 2016
The Bittrex price acted in a similar way, now trending in the small zone betwean the green and the light blue support/resistance lines.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 14, 2016
STEEM/BTC volume Bittrex Aug 15, 2016
STEEM/BTC volume Poloniex Aug 14, 2016
STEEM/BTC volume Poloniex Aug 15, 2016
STEEM indexed global volume Aug 14, 2016
STEEM indexed global volume Aug 15, 2016
Coinmarketcap top volume cryptos Aug 14, 2016
Coinmarketcap top volume cryptos Aug 15, 2016
The volume halved in comparison to yesterday, Poloniex still having the head volume and Bittrex falling down below 50 BTC volume, the lowest it has been in days.
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 :)
Are there more people who are doing TA?
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.
Kind Regards, OZ :)
COMMENT
Although the volume dropped heavily there was nearly no sign of sell pressure so that is a very positive sign.
It indicates that we might see some buy pressure along with some nice price increase over the course of the next few days, cos it looks like there is no one selling at this levels.
Looking forward to the next few days in the hope to see a confirmation of the trend reversal and the entrance of a new accumulation zone.
yes
A 22,000 Steem sell order showed up on Poloniex =\
Someone ate through most of it in two orders buying ~29 BTC in one and ~18 BTC in the other.
There's now around 4K STEEM / 10 BTC left of that sell order.
Aaaand it's gone :) Got bought while I was typing my previous comment :)
2016-08-15 08:29:43 Buy 0.00258510 4115.44603815 10.63883955
that was rather quick :) some decent support on the books aswell
Buy Now price 0.00253664btc/steem
thanks @ozmaster @ozchartart
Steem/ BTC 1-hour chart below:
Very unwise to buy Steem before at least a breakout (and 1-hour bar close) above the upper line of the triangle (red line).
Better odds come with a close above the first major horizontal resistance (lowest yellow line).
The most conservative (safest and highest probability) buy comes with a close above the second major resistance, with 50% fibs confluence (marked by the big black arrow).
It's smart to wait for confirmation of a change of trend before buying, IMO. This thing could still have a long way to fall.
great post
thanks
thanks allot for the continuous support! I hope the updates are of use!
The prices keep going back and forth every day ... Do you think it's good for Steemit that so many people are cashing out? And does it have an influence on the price?
Anyhow thanks for the newsworthy post @ozchartart
it does have influence on the price, to be hones i do think its good that people are cashing out, i'd be most happy if i'd see every single one of us cashing out as much as possible in order to test the limits of the market, i repeat once again, even the market is in beta ;)
It influences the market in an inflationary way, we sell steem/SBD on the market for BTC, but in that way we are providing the newcomers with the ability to get their desired amount of steempower
Efficient report, thank you!
Thanks very much for the comment! hope it helped!
Steem price is going to go much lower to armound 0.0008 - 0.0001 BTC range. Poloniex has sell/buy orders ratio as 3:1, which means that the price will drop.
nice charts @ozchartart
Do you people think the prce will drop below 1$? I want to wait and buy more steempower then but im not surel
if you like check my infos about account creations skyrocketing on steemit https://steemit.com/steemit/@dowha/steemit-account-creations-per-day-is-skyrocketing
steem all the way to 0.50 cents
https://steemit.com/steem/@vlad/steem-bitcoin-gann-square