Maket Update on Steem/USD 4/9/2018
Did somebody have 'auto-sell' in their trading program? That red dagger at the end of that nice rally reminds me of the priest that gets skewered in the movie 'The Omen'. So where do we go from here?
Drilling down to a 3m chart I expect we will re-test 1.58 at a minimum. The fall from 1.83 is so steep I can't see this thing turning on a dime and heading up in a 'V' recovery. When you see a move like this there is plenty of guessing in the mix.
As usual, we are following the Bitcoin falling knife at the moment. I hope we decouple from this correlation soon!
Pretty thick umbilical cord attached to BTC and ETH. Although the moves are looking in the mirror I am seeing market internals diverge.
Can't steem value be independent of Bitcoin? When will that happen?. Currently the majority is focusing on the bitcoin dropping line to determine steem prices.
Steem will become independent of BTC when the exchanges become more decentralized. Right now, buying Steem requires holding ETH or BTC so Steem is attached like a Siamese twin.
Understood sir! let me keep calm and steem on.
MOT
