$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #41, "The candles tell a story" Sept 10, 2016
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Sept 09, 2016
4 hour Poloniex chart - Sept 10, 2016
After making a new all time low on Poloniex, the price started a nice bounce and seems to be heading towards the frst resistance line (~0.001225). Lower volume then yesterday but still more then double compared to few days ago.
BITTREX
4 hour Bittrex chart - Sept 09, 2016
4 hour Bittrex chart - Sept 10, 2016
The Bittrex price bounced of the 0.0009 support line heading towards the 0.00123 resistance line. The bounce seems to be a bit sharper then on Poloniex. Volume nearly halved compared to yesterday but is also as on Poloniex more then double compared to the low volume days few days back.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 09, 2016
STEEM/BTC volume Bittrex Sept 10, 2016
STEEM/BTC volume Poloniex Sept 09, 2016
STEEM/BTC volume Poloniex Sept 10, 2016
STEEM indexed global volume Sept 09, 2016
STEEM indexed global volume Sept 10, 2016
Coinmarketcap top volume cryptos Sept 09, 2016
Coinmarketcap top volume cryptos Sept 10, 2016
Volume almost halved since yesterday on both exchanges, but despite that $STEEM gained a few playces on the volume ranking.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
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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 :)
COMMENT
Upwards potential seems to be good, although it doesn't look as this bounce is very strong it might just have been the turning point into an uptrend.
Still see downwards potential, even a possible attack on the ~0.0007 support line.
Can't really tell which situation i'd lean towards more today.
I'll just keep watching the chart today, might get interesting.
I still feel we will see a retest of the lows, I wouldn't want to see it go any lower but that will depend upon supply ( rising) and demand ( hopefully rising faster than supply) if it breaks much below $0.50 it could fall back to all time low of about $0.20
I really appreciate your charts and analysis. Like you I am uncertain as to which way the market will go.
Thank you for taking the time to consistently put these posts together.
Steem on,
Mike
Interesting post. Thank you.
VERY NICE POST :))) INTERESTING,GOOOOOOD)