$BTS/BTC Daily Poloniex Technical Analysis / Market Report Update #59, Jan. 20, 2017.
Hello Steemers!
POLONIEX
1 day Poloniex chart - Jan. 19, 2017
1 day Poloniex chart - Jan. 20, 2017
4 hour Poloniex chart - Jan. 19, 2017
4 hour Poloniex chart - Jan. 20, 2017
The price traded flatly most of the day, right on the 430 support line, 8 hours ago it broke the support line and started going down breaking the next 2 support lines, the 420 and the 410 one.
It came down to the major 400 satoshi support level where it made a new local low at 397 satoshi, just a little bit bellow the 401 support line.
At the moment the price got pulled up, slightly, and is trading at around 405 satoshi
VOLUME
BTS/BTC volume Poloniex Jan. 19, 2017
BTS/BTC volume Poloniex Jan. 20, 2017
BTS indexed global volume Jan. 19, 2017
BTS indexed global volume Jan. 20, 2017
Coinmarketcap top volume cryptos Jan. 19, 2017
Coinmarketcap top volume cryptos Jan. 20, 2017
Overall volume about 218% higher then yesterday, $BTS on 25st place on the volume rankings.
Poloniex volume about 89% higher then yesterday, volume ~34 BTC.
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.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ
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COMMENT
With the making of this new local low, although it is a lower local low if viewed on the shorter period, it is a higher local low in the bigger picture.
For the moment it the price got stopped by what I think represents a major support/resistance, the 400 satoshi levels and has made ground for a trend line, therefor I expect the price to start turning here, and for tomorrow I expect it to go reach to the 420 satoshi resistance,