$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #44, "Stop you're stalling" Sept 14, 2016
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Sept 13, 2016
4 hour Poloniex chart - Sept 14, 2016
1 day Poloniex chart - Sept 14, 2016
The price went further down without even making a bounce and is now on its way to the all time low support line.
About 20% lower volume today on Poloniex.
BITTREX
4 hour Bittrex chart - Sept 13, 2016
4 hour Bittrex chart - Sept 14, 2016
The Bittrex price broke the support line it was on yesterday and is now on its way to the 0.009 support line where it recently made a local low.
About 25% lower volume today compared to yesterday.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 13, 2016
STEEM/BTC volume Bittrex Sept 14, 2016
STEEM/BTC volume Poloniex Sept 13, 2016
STEEM/BTC volume Poloniex Sept 14, 2016
STEEM indexed global volume Sept 13, 2016
STEEM indexed global volume Sept 14, 2016
Coinmarketcap top volume cryptos Sept 13, 2016
Coinmarketcap top volume cryptos Sept 14, 2016
The overall volume about 20% lower today, but $STEEM lost quite a few places on the volume ranking, now sitting on the 32nd place.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
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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.
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COMMENT
I would either expect a nice bounce from this point or an attack and break of the Poloniex all time low line and probably a fair push downwards towards the ~0.0007 BTC support line (pulled from Bittrex- dashed blue one).
Another possible outcome I could see is a mild bounce, rather a flatout in order for further preparation of uptrend (aka accumulation).
I think this will have a big impact on curation.
Voting Power Algorithm Unchanged - https://steemit.com/steem/@steemitblog/steem-0-14-1-released-hardfork-postponed-until-9-20-2016
Something else I wanted to point out, looking at Polo STEEM charts. It costs less money to bring the price to 11 than it costs to bring it down to 6
Interesting to see if we see the bounce. Especially after the news that Apple has picked STEEM as one of only 9 supported Cryptocurrency on App Store
agreed, I think there is a fair chance of the price trying to go down to the 0.0007 support line, but with the new update (focusing 4 votes per day rather then 40) and the news with Apple App Store I think we won't see the downtrend lasting for a long time
Great charts. Thank you for posting this
Thank you for supporting!
Hope they help!
From my experience a downtrend is a downtrend until uptrend is confirmed. Therefore my current view is: downtrend.
is going all the way to 0.20 cents, i called ince steem was priced 1.55 dlls, many laugh now i am .36 cents closer to my call,0.20 cents is support 0.05 still possible, all this by December.
I think it will stop when the average user makes around 5 cents a day. The reason I say this is that this is generally what most people make on other social media pages.
Steem / BTC
Resume: hold, flat movement