RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #39, "...to the ring of fire.." Sept 08, 2016
We remain in the downtrend we've been in since the July bubble. My take is that it will turn around at some point, but nobody knows when so for now it's a great time to be slowly accumulating and working towards a target Steem Power. I started buying around 0.0036, and have enjoyed cost averaging my way down since then. I've got another buy order placed around 0.00086, and every time I buy I place a new order around 30% lower, then just wait for it to get hit. My goal is to invest 1000 SP total into the system, then try to accumulate more through my blogging. Don't know if it will work out or not, but I see a lot of potential in a platform like Steemit and it's got first mover advantage over potential rivals like Synereo. Just remember the golden rules of investing: never invest more than you can afford to lose, and never put all your eggs in one basket!