$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #40, "...wasted again..." Sept 09, 2016
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Sept 08, 2016
4 hour Poloniex chart - Sept 09, 2016
The price went into making new all time low and used Bittrex support level for start of a bounce and making of a swing low.
BITTREX
4 hour Bittrex chart - Sept 08, 2016
4 hour Bittrex chart - Sept 09, 2016
The price went crushing down, briefly bouncing on the ~0.00098 support line, but breaking it right after and going down to touch the 0.0009 support line where it now, same as on Poloniex made a swing low and is making a bounce
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 08, 2016
STEEM/BTC volume Bittrex Sept 09, 2016
STEEM/BTC volume Poloniex Sept 08, 2016
STEEM/BTC volume Poloniex Sept 09, 2016
STEEM indexed global volume Sept 08, 2016
STEEM indexed global volume Sept 09, 2016
Coinmarketcap top volume cryptos Sept 08, 2016
Coinmarketcap top volume cryptos Sept 09, 2016
The volume rises significantly on both exchanges and is overall ~3x higher then yesterday, giving a steem nice boost to the 23th place on volume rankings.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
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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.
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COMMENT
that hard dump and the making of a swing low would indicate to me that there will be accumulation here.
Downwards potential is still there with first support line around ~0.0007BTC(marked with light blue dashed line):
I doubt we will see the downtrend continue today, more in favor of a fair bounce here.
I wonder if bitcoin's rise is playing a part too - people are selling because they want to cash out into dollars.
Nice to see a little bounce at the 0.001 ish level but I think the $0.50 mark is going to be a psychological support level. Let's see should only be a day or 2 at this rate of decline.
i think it still goes lower before up again.. but not worried!
thanks for this post
woooow, your done work very good, and me it seems to will be cognitive all and interesting, fine fellow !!!!
Great work. :)
Nice rapport
I'm getting worried. But Steem is basically my introduction to the world of cryptocurrency, I'm a beginner. My thoughts don't mean much. Maybe someone can ease my worry.
Last month analysis
Last month I predicted that the price of STEEM would go down to 0.57 on this post : https://steemit.com/steem/@najoh/steem-technical-analysis-support-broken-new-lows
We are almost there, my new prediction based on my analysis and experience of the markets is that we might see lower prices than I expected. The next support is at 0.20 and we are headed to that level very soon. We might even see single digits cents before the end of the year. I wouldn't be surprised to see the price of STEEM between 1 to 3 cents before December.
This month analysis on hourly chart
Lower lows and still trading under 50 and 200 MA. Very bearish.
This month analysis by day
I think the chart speaks for itself. Very bearish.
I posted some more info here : https://steemit.com/steem/@najoh/09-september-2016-honest-and-explained-technical-analysis-steem-btc-usd-by-najoh
like it :) thank you for sharing this... perhaps u find some graffiti u like on my blog .. have a look <3 kalipo