$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #68, "Be my lil rock'n'roll coin" Oct. 08, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 07, 2016
4 hour Poloniex chart - Oct. 08, 2016
1 day Poloniex chart - Oct. 07, 2016
1 day Poloniex chart - Oct. 08, 2016
The price made yet another all time low on 0.00059 after which came a very shy bounce which got stopped at the ~0.000675 resistance. Now it's trading slightly above yesterdays low levels, ~0.00062 BTC.
BITTREX
4 hour Bittrex chart - Oct. 07, 2016
4 hour Bittrex chart - Oct. 08, 2016
The Bittrex price made only a few satoshi lower local low, with a bounce hitting the ~0.00067 resistance, just a little bit below the Poloniex bounce. The price got dragged back down and is now trading around the ~0.000605 support line.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 07, 2016
STEEM/BTC volume Bittrex Oct. 08, 2016
STEEM/BTC volume Poloniex Oct. 07, 2016
STEEM/BTC volume Poloniex Oct. 08, 2016
STEEM indexed global volume Oct. 07, 2016
STEEM indexed global volume Oct. 08, 2016
Coinmarketcap top volume cryptos Oct. 07, 2016
Coinmarketcap top volume cryptos Oct. 08, 2016
Overall volume about 90% higher then yesterday, $STEEM on 15th place on the volume rankings.
Poloniex volume about 125% higher then yesterday, ~236 BTC.
Bittrex volume about 15% higher then yesterday, ~41 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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Please post the links to your TA's posts into the comments as well!
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
Seems the price is still in a downtrend, although the volatility is getting lower and lower, there are still 3 more possible targets below the certain price that could be used as the ultimate bottom, the ~0.00053, 0.00045 and the 0.000332 support lines.
I see a fair chance of the price making a bottom here, but I don't wanna give it too much of attention as I have seen in the past few day's that the price is showing no mercy on the down moves.
My strategy for now is holding what I have bought so far and slowly embracing the position as I wait out for the trend change.
You are right. We are still in a channel.
Is the blood flowing yet?
I got in too soon, but it's better than too late. Trying to pick bottoms just leaves you with stinky fingers. :)
"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Phil Fisher
Why do you think the price keeps falling?
probably cos the whales keep powering down and selling, + probably the new payouts system where authors do get a % of the payout in steem aswell has an impact on the market
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great!
Nice post - A lot of data here but I feel like I don't have the background knowledge to fully appreciate it. Is there any resources you would recommend?
investopedia would be the ultimate source!