$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #220, May. 26. 2017.
Hello Steemers!
First of all, I would like you to take 5 minutes of you're time and vote for $STEEM being added to BTCC (BTCChina), a big Chinese exchange.
This is something every one of us can do in order to help the STEEM economy.
Simply make a Twitter account and follow the bellow link to vote!
https://twitter.com/bobbyclee/status/865851769116475392
Thank you all in forward!
POLONIEX
4 hour Poloniex chart - May. 24, 2017
4 hour Poloniex chart - May. 26, 2017
1 day Poloniex chart - May. 24, 2017
1 day Poloniex chart - May. 26, 2017
The 55k level didnt provide enough support and the price dipped down breaking the 48k line and made a new local low at 42k satoshi, just at the bottom of one of the previous low points (I pulled a thin purple line so you see it better), making it a higher local low in a bigger perspective.
After marking the new local low the price got pulled back up above the ~44k line, and then slowly continued upwards breaking the 48k level with a bounce, and since been trading just at the 48k line.
BITTREX
4 hour Bittrex chart - May. 24, 2017
4 hour Bittrex chart - May. 26, 2017
Bittrex also had it's new local low marked at 42k satoshi and then got pulled back up above the 45k line which seems to provide decent support for the second time already (circled yellow).
VOLUME COMPARISON
STEEM/BTC volume Bittrex May. 24, 2017
STEEM/BTC volume Bittrex May. 26, 2017
STEEM/BTC volume Poloniex May. 24, 2017
STEEM/BTC volume Poloniex May. 26, 2017
STEEM indexed global volume May. 24, 2017
STEEM indexed global volume May. 26, 2017
Coinmarketcap top volume cryptos May. 24, 2017
Coinmarketcap top volume cryptos May. 26, 2017
Overall volume about 36% lower then on May 20, $STEEM on 26th place on the volume rankings.
Poloniex volume about 32% lower then on May 20, ~1160 BTC.
Bittrex volume about 32% lower then on May 20, ~235 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!
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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
In the end, it's still important that we hold the .00040 level on Steem/BTC. That is the most recently established support on daily chart. If we were to break that then the prior tops in the .00032 are would be in play.
Unfortunately this pullback in BTC is not aiding in a STEEM bump as we are down yesterday and so far today. Long as we are above .00040 I am happy though.
Voted!!!...:)...
Looking forward to seeing how high Steemit can go.
Truly exciting times!
COMMENT
In case of an uptrend i would expect the first harder resistance to be at 55k satoshi with the next target being the 65k line.
In case the 48k support fails to hold, I see the price dipping down possibly even to around 36k satoshi (where i made 2 lines thicker, the red and purple ones) but I also expect good support around 40k saotshi which might just hold and provide enough support for another change in the trend.
Thank you! All I needed, really.
nice.....resteem and upvote for your post....
Lets get Steem on BTCC!!! Thanks for sharing your TA ideas with us @ozchartart! Much appreciated :)
Good presentation man! Like it :)
Disclaimer: I am just a bot trying to be helpful.
Nice tech analysis. I wonder how high Steem would go if Steem goes on BTCCHina. Any idea?