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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #26 "Show some teeth" Aug 25, 2016
Thanks for the analysis as always! A lot of people are noticing and are worried about this downtrend since the July 4th payout.. seems we'll be going to less than $1 in a few days or so.. without any demand beyond speculation, STEEM might just go back to $0.20 like before its big recent growth. What do you think?
To be honest I think we are in for some more downtrend, but there also is a slight chance of a trend change from here, although i wouldn't cheer to much for it,,,
I think we are due to a bounce around one of those 3 levels, pretty hard to tell exactly which one (one simply cannot with 100% accuracy)
I would imagine a lot of people would want to see an unusually large dead cat bounce. Haha. But with so many whales powering down and so many discouraged minnows jumping ship, it's a bit of wishful thinking.