$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #175, Jan. 27, 2017.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Jan. 26, 2016
4 hour Poloniex chart - Jan. 27, 2017
1 day Poloniex chart - Jan. 26, 2016
1 day Poloniex chart - Jan. 27, 2017
After the price made a new local low at around 15.6k satoshi yesterday, it got pulled back up to about 16.1k and then started turning down again and went to the 15.8k support, briefly spiked through it, again to 15.6k satoshi and then started a uptrend.
It broke through the 16.3k resistance and is now traded at around 16.5k satoshi.
BITTREX
4 hour Bittrex chart - Jan. 26, 2016
4 hour Bittrex chart - Jan. 27, 2017
After going to 16k satoshi, Bittrex kepts its downtrend to 15.8k satoshi then like Poloniex started turning up and is now traded at 16.4k satoshi.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Jan. 26, 2016
STEEM/BTC volume Bittrex Jan. 27, 2017
STEEM/BTC volume Poloniex Jan. 26, 2016
STEEM/BTC volume Poloniex Jan. 27, 2017
STEEM indexed global volume Jan. 26, 2016
STEEM indexed global volume Jan. 27, 2017
Coinmarketcap top volume cryptos Jan. 26, 2016
Coinmarketcap top volume cryptos Jan. 27, 2017
Overall volume about 9% higher then yesterday, $STEEM on 29th place on the volume rankings.
Poloniex volume about 8% higher then yesterday, ~98 BTC.
Bittrex volume about 4% lower then yesterday, ~20 BTC.
COMMENT
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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.
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Kind regards, OZ
COMMENT
Expecting an uptrend tomorrow, my first target would be the 17k resistance, if the price shows strong buy support It could even go to the next resistance, being the 17.8k satoshi one.
If it shows weakness I'd guess it will go to about 17k and then turn back down to the 16.3k support.
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Would like to see Steem maintain these levels, this seems like a good price for the current level of trading volume on the coin.