$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #56, "Small but firm steps" Sept 26, 2016
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Sept 25, 2016
4 hour Poloniex chart - Sept 26, 2016
1 day Poloniex chart - Sept 25, 2016
1 day Poloniex chart - Sept 26, 2016
The price refused to go further up rather turned back down after trying to break the resistance line, dropping down through the 1st support line and making a bounce on the 2nd one to come. Now it sitting on the support/resistance line it broke on its way down.
BITTREX
4 hour Bittrex chart - Sept 25, 2016
4 hour Bittrex chart - Sept 26, 2016
The Bittrex price also turned down, trying to make a bounce on the first support line but failing in the attempt and continuing down to the 0.0009 support line where it made a bounce spiking nearly to the second line.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Sept 25, 2016
STEEM/BTC volume Bittrex Sept 26, 2016
STEEM/BTC volume Poloniex Sept 25, 2016
STEEM/BTC volume Poloniex Sept 26, 2016
STEEM indexed global volume Sept 25, 2016
STEEM indexed global volume Sept 26, 2016
Coinmarketcap top volume cryptos Sept 25, 2016
Coinmarketcap top volume cryptos Sept 26, 2016
Overall volume about 70% lower then yesterday, $STEEM fell down to the 16th place on the volume rankings.
Poloniex volume about 75% lower then yesterday. ~188 BTC.
Bittrex volume about 35% lower then yesterday, ~47 BTC.
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
Would expect the price to keep the overall bullish trend , although with likely further retrace down and making of a higher local low, could aswell have been the 0.0009 line.
At the moment my current position is bullish ( meaning i expect the price to rise in an overall sense), so I'm holding my steem. :)
The close of today will be interesting. If we cannot hold 0.0009 then we will be back into the "prior range" with 0.00068 prior lower acting as the bottom. At this point I will take sideways consolidation as opposed to falling back into a down channel. 0.000976 is important to be as it is the top of the previous high that we recently breached. Not holding it would not instill bullishness.
Another great post. Happy to upvote. Cheers. Stephen