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RE: STEEM Technical Analysis - 28 July 2017
I like to believe your graph, but could u explain to me why we only look at a 6 day graph to conclude that the price is dropping is that what is the standard?
How bout all money that is going to btc right now in order to cash in on BCC. I think to make a conclusion of a possible trend like the above we should consider a few more variables? Overall picture overall sentiment towards altcoins right now.
I say anything can happen right now as there are to many variables.
Without wanting to sound like Inknow it all, how technical do you think your analysis really is?
I do a Daily Statistic but im thinking about making it a 3 day analysis or weekly even. That is why the chart is a 6 day overview at this moment.
I take into consideration many of these things you talk about but after today im not gonna make any analysis, since you said anything can really happen but i do see STEEM drop significantly if these things do happen in the coming days. Its a very historical moment.
How technical mine is well pretty technical in my eyes since i spend many hours looking and adjusting many statistics.
Thank you for your input @oudekaas
Hi beyondthecrypto I follow you! I am genuinely interested in analysis but I do sometimes wonder what people look at in terms of drawing a conclusion in terms of where the trend probably goes.
What is the idea behind the drawing of the two lines, it gives a trend obviously, but if a spike is up or down how do the lines tell us if it the trend is downwards if there is for instance huge support at the lower levels of the line, which actually would indicate that there is a likely hood that the support is strong enough to possible reverse the downtrend?
Thx for the reply