Who do you blame for STEEM drop?
while Ethereum and Bitcoin are experiencing 18 months highs, STEEM is dropping from its stable support levels in last months. As a fiat opt-out guy I have always said I don't care about STEEMUSD as much as STEEMETH and STEEMBTC are important to me.
Re-trace-ment
If you look longterm, on a 50 period daily chart we can see the probable retracement would be as below:
So these are probable levels with the probability mentioned in the picture, based and calculated on Fibonacci retracement formula and considering three Moving Averages on 21, 55 and 100, all exponential:
0.0014 to 0.00189
then to 0.00233
and finally to 0.00268
above the last resistance level, a reversal in the trend is probable.
If you look in to the
Short term retracement
You probably can read everything from the image:
OK, enough technical talk and charts! In my next post, I will mention why I believe STEEM is not doing fine and how I believe this lovable token and the community behind it can perform better.
Yeah,.,. I wish I had sold everything at $8 and bought something nice.
I wasn't here that time, but I bought $2.2 tokens which hurts 🤕
no problem, it was a great experience and I'm still following it up for the SMT thing, I'm planning to adopt it in my business which is a B2B platform. I hope steemit can lead the blockchain out of current situation.
I find Steem the easiest crypto to send to people (here on Steemit) to buy stuff. Could be. A great ecosystem.
really? that's great! 😎
Dear @honarparvar
I'm honestly wondering if recent STEEM selling pressure didn't increase simply because of HF21 and the fact, that most people (at least those I talked to) think that HF21 will bring a huge blow.
I also think that it will create more opportunities to abuse the system and I'm seriously worried about future here. 50/50 proposal and non-linear curve does give impression, that "rich will get richer" and "poor will only get poorer". And it does look like "whales" are going to "milk that cow" (meaning: steemit) as much as they can.
Yours
Piotr