$BTS/BTC Poloniex Technical Analysis / Market Report Update #108, May. 23, 2017.
Hello Steemers!
POLONIEX
1 day Poloniex chart - May. 19, 2017
1 day Poloniex chart - May. 22, 2017
4 hour Poloniex chart - May. 19, 2017
4 hour Poloniex chart - May. 22, 2017
1 hour Poloniex chart - May. 19, 2017
1 hour Poloniex chart - May. 22, 2017
After going down and making a new higher local low at the 3.6k support line, the price jumped up and made its way to the 4.5k resistance line and shortly after broke up to the 5k resistance, making a new local high at 5.2k satoshi.
After the making of the new local high the price dipped down to the 4.5k line, trading between those 2 till the start of today's day.
Today the price went down and with a hard downtrend spiked down to the 3k satoshi line (bottom of yellow rectangle) where it made a new local low. It then got pulled back up above the 3.6k line after which came another spike downwards with the price reaching 3.2k satoshi but then once again being pulled back up above the 3.6k satoshi line, where it seems to have support and is now trading slightly above, around 3.8k satoshi.
VOLUME COMPARISON
*BTS/BTC volume Poloniex May. 19, 20179
*BTS/BTC volume Poloniex May. 22, 20179
BTS indexed global volume May. 19, 2017
BTS indexed global volume May. 22, 2017
Coinmarketcap top volume cryptos May. 19, 2017
Coinmarketcap top volume cryptos May. 22, 2017
Overall volume about 12% lower then on May 19, $BTS on 17th place on the volume rankings.
Poloniex volume about 18% lower then on May 19, volume ~4294 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
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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
COMMENT
Over the coming few days I expect the price to have a down turn, finding its support between 3k and 2.6k satoshi.
Tomorrow I would expect the price to go down to that blue line i pulled (an previous point of high) and then trade a bit between it and the 3.6k line before going down further.
It seems so. Don't discredit my noobness but I agree that the price will hit one more time at the blue line you drew (resistance), bounce back up, and then fall back down breaking through it on a downward trend until it hits a greater resistance below the blue line. Just a wet 'n wild guess but I predict we'll see BTS raise again shortly after it breaks through the blue line. Again, I'm just a peasant noob but I think a good time to buy would be tomorrow morning/noon when the price begins to curve back up at around 3200 satoshis. But what do I know...? I hardly have any btc to trade with.
Cool, good to know thanks lol
Is Polo out of coma?someone fill me in please......