Its been another great week for STEEM traders and investors.
Keen to learn more about the Volume vs Time dynamics in the STEEM/BTC market I've run a few statistics to learn more about the nature of this beast.
The graph below shows the volume accumulated average of each 60 minute period in a day, over the last 7 days (all times are GMT UK Time)
Over the last 7 days, the 23:00 - 23:59 hour has won the highest volume of the days.
The chart below marks the Closing price of the 23:00 bar so you can visually see how price manoeuvres around this level.
7 days isnt a very large sample size to work from, but its a start in learning about the nature of how this market moves.
The next graph shows the previous 30 days volume accumulated average of each 60 minute period in a day, which is very similar to the 7 day graph.
Using 90 days accumulate data for each 60 minute period highlights a clear anomaly with the 17:00 bar (5pm GMT UK Time)
Below is the STEEM/BTC chart with the 17:00 bar closing price marked as the black line.
At a glance, its clear this level could be used as a key pivot in our trading strategies for managing existing positions, gaining a directional bias if price is trading above or below this level day by day, hour by hour, possibly accumulating positions inline with your trading method or even designing an algo around this high volume level
Please take this information with a pinch of salt, although i hope it could be some food for though for someone to really take advantage of this slight edge and dig into this further.
Until next time, stay safe :)
where can someone see those stats? I am a newbie in here and at the moment i am seeing some statistics from coinmarketcap but i am sure that there are pages with a lot more information, i just didn't find the time to search for them yet.
I use Sierrachart to pull the data from Poloniex and extract the data to a spreadsheet. I could run this study for a specific market if you like, or if theres another stat you want i can try help?
At the moment i don't have something in mind. If something occurs I will come back :) thank you very much and i already bookmarked sierrachart to search it in the future.
So those data are only from Poloniex? maybe if you collected data from all markets we would have a better representation of the overall trends.
Anytime mate. Yes a solid data source with larger sample size is something im keen to find, extracting this data from Poloniex is progress on this quest, and hopefully there are solutions.
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