$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #27 "welcome back to the twilight zone" Aug 26, 2016
Hello Steemers!
Again a mellow mood day for the steem price, we entered some very interesting and important price levels today. Some fun to be expected soonish ;)
POLONIEX
4 hour Poloniex chart - Aug 25, 2016
4 hour Poloniex chart - Aug 26, 2016
After an unsuccessful bounce try, the price once again went down into uncharted territory making once again a new all time low.
BITTREX
4 hour Bittrex chart - Aug 25, 2016
4 hour Bittrex chart - Aug 26, 2016*
12 hour Bittrex chart - Aug 25, 2016
12 hour Bittrex chart - Aug 26, 2016
1 day Bittrex chart - Aug 25, 2016
1 day Bittrex chart - Aug 26, 2016
The Bittrex price went down a swell making a new local low, it touched one very valid support line, the first one of the pre-pump prices with that entering what we should consider very strong support levels.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 25, 2016
STEEM/BTC volume Bittrex Aug 26, 2016
STEEM/BTC volume Poloniex Aug 25, 2016
STEEM/BTC volume Poloniex Aug 26, 2016
STEEM indexed global volume Aug 25, 2016
STEEM indexed global volume Aug 26, 2016
Coinmarketcap top volume cryptos Aug 25, 2016
Coinmarketcap top volume cryptos Aug 26, 2016
In comparison to yesterday the volume picked up a bit on both exchanges, but not showing any specialy hughe volume, I'd say just another low volume day for $STEEM
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!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
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.
Kind Regards, OZ :)
Thanks again for these reports!
btw, this is my 501st post! Yay steemt!
I hope you're right, and it does bounce... feeling a little heavy right now.
thank you!
gratz on the 501st post!
It can only go so low...price is getting tempting for accumulation.
I agree, steem as other still is a coin and has a market!
COMMENT
With the price hitting the first pre-pump support level we are entering what I consider a very hard support level, I might be wrong and it might not come before the ~0.001 levels, but to be quite honest I do expect some bounce here before the price takes another try downwards.
In these levels I still see some downwards potential towards ~0.001, but as days go by the upwards potential is becoming stronger and more likely. In my honest opinion it's just a matter of a few days before we see the trend turn.
Seems to me this correction to some sort of reality based level of what blogging is worth HAD to happen. Once that price level is discovered, and if people are still Steeming , then a sustainable Steemit ecosystem can and will evolve.
And dont forget...many whales are cashing out and paying for new things to be built for steem :)
Thank you for another great update!! I think I see where to aim at :)
Lovely design work on that logo :)
Nice analysis @ozchartart 💙
thanks allot
Good tech.analysis. I create more posts about technical analysys.
This is my technical analysis STEEM/BTC:
The previous forecast was correct and brought 25% Profit.
Downward movement is limited with a value – 0.00119925. In the future it potentially may bring additional 30%. In a few days, we will see probably still bottom of down bar session, then there will be a slight upward correction.
Resume: Sell
Aim: 0.001199
Interesting outlook and tool thanks.
My fundamental analysis is that I can't see any bottom or support price in the near future, that's the overwhelming feeling. Maybe at 20-40 cents but that's not guaranteed.
Unless a proper business plan is established, changes in rewards system or total Steem supply the price will continue to slide indefinitely just based on current inflation rate.
doesn't necessarily need to be true, allot of coins with high inflation rate have had interesting chart patterns
Of course not, I'm not right every single time haha and I was just mentioning the current sentiment. I don't think a reversal is around the corner but much lower so we'll see. The lack of "bounces" or spikes in this downtrend tells me there's zero rush from traders to get in but I'll leave the technical analysis to the pros like you ;)
Holding out for that .0012 price still before buying some. Purchasing some bitcoin as we speak to be ready.
Well I certainly hope we are getting to the bottom I'm ready for the rise again!