More Downside in Crypto
Hello Steemians! BTC continue to move downward for the 3rd day on below average volume. Let's have a look at the daily chart:
We are printing a red bar so far today and as of this writing price is at 8330. If the day closes firmly in the red we will have a bearish cross-over in the stochastic near 50 level, which is considered weak. Volume now have fallen below average, and until that picks up it is hard to stage a rally. Global financial markets are in turmoil, and I am sure that is not helping the money supply.
Let's have a look at STEEM, shall we?
Basically the same story at STEEM as well, currently trading at 1.81. Slowly but surely we are heading toward 1.4 level again. With the weak volume we have for about months now, that level is unlikely to hold. But again this is not a exact science, if we get some kind of a news driven rally we can potentially rally from anywhere, but with the lack of any external event we will continue to leak.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
I dont see the markets coming back to December lvls for a while...maybe end of year again.
Everything in this market is manipulated by power players!
May be, it my style of trading I don't predict top or bottom or timing. I just take one bar at a time and follow along for a little bit. That's all.
For a while I actually thought the dip was over, seems we are heading even lower. Smh
Dip is clearly not over
hopefully all that can change, thanks for sharing @azircon
We all hope for the best
yes, what can i do for you, so you will help me @azircon
what do you mean? if you want something just say it.
I want you to help me to upvote my post because I need help from you, sorry if I am wrong
Yes, you are wrong. Asking for vote this way is considered spam. So don't do that again with me, or with anyone else. It is really bad behavior. Is that clear?
yes, thanks for the advice, I am glad to get to know you, because you want to share a steemit peratura
We should honestly take this moment in time as an oppurtunity. I know you might others might be devasted that their investment like Bitcoin and Steem is low, but if you truly believe that a certian crypto like Bitcoin or Steem will do well then buy some more. I like this temporary point we are at right now in crypto because this is an oppurtunity to buy. By the way, this was a great post and keep up the good work!
Thank you for the visit. I agree that this could be an opportunity. The difficult thing however is to find how low can it go. In other words is the best opportunity today, tomorrow or 6 months from now :)
maybe this story has something to do with the new downfall ...
it's from the BBC 'Child porn links could make Bitcoin blockchain illegal'
https://www.bbc.com/news/amp/technology-43485572
huh! I had no idea. I am not much of a news reader. But I don't think this is much of a news. Even BBC put stories like this up. I am not saying the story is false and it is indeed disturbing. But there are far more important things happening around the world than certain illegal pictures on the blockchain. Just saying...
i came across the story yesterday thought it was a nice excuse for downfall :)
been a long while since i see stochastic. Do you use candlestick too ?
got another bounce from the bull at mean reversion, lets see if it can break 8900 and test your red line again or U-turn again the 3rd time.
steem might do it own thing for a brief moment but still follow the general movement of big brother bitcoin.
btw, when did you buy in steem and what's your reasons for doing so ?