$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #199, Feb. 20, 2017.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Feb 19, 2017
4 hour Poloniex chart - Feb 20, 2017
1 day Poloniex chart - Feb 19, 2017
1 day Poloniex chart - Feb 20, 2017
The price went to the all time low at 10.9k satoshi and spiked through it once again making a new all time low, just 300 satoshi lower at 10.6k. It the n got pulled back up to the 10.9k line and was traded lightly around it since.
BITTREX
4 hour Bittrex chart - Feb 19, 2017
4 hour Bittrex chart - Feb 20, 2017
Bittrex marked a new all time low at 10.7k satoshi and has been traded between it and 11k since.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Feb 19, 2017
STEEM/BTC volume Bittrex Feb 20, 2017
STEEM/BTC volume Poloniex Feb 19, 2017
STEEM/BTC volume Poloniex Feb 20, 2017
STEEM indexed global volume Feb 19, 2017
STEEM indexed global volume Feb 20, 2017
Coinmarketcap top volume cryptos Feb 19, 2017
Coinmarketcap top volume cryptos Feb 20, 2017
Overall volume about 4% higher then yesterday, $STEEM on 35th place on the volume rankings.
Poloniex volume about 12% higher then yesterday, ~45 BTC.
Bittrex volume about 52% lower then yesterday, ~4 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ
This is such a low and a half... I guess a lot of investors got scared last week and by the same token allows us to buy at all time lows!?! Thanks for sharing, all for one and one for all! Namaste :)
COMMENT
Expecting a rather flat trading day between the newly made all time low and 11.5k satoshi.
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$Steem trading at 9,700 satoshi on Poloniex as i write this, i suspect the price to keep retracing until its found its floor price... which, considering i bought from 22k sats down to 12k.... could be 50% lower than my lowest buy price of around 6k satoshi... Lets hope, what is now my worst ever trade for quick losses, will turn into the biggest ever long term gains.
I am in steem for the long term, will transfer some coins over from polo to buy Steem Power with and carefuly watch the progress of the Steemit platform here, helping in any way i can to spread the word of Steemit.
I predict by the end of the year we could see a price over triple figure satoshi. 100k+
The bottom seems yet to be found. The recent trade tricked me and it looks like it is one of the "mother of all false breakouts".
See the chart below, the red lines mark trend line that started last December, I bought during the breakout @ ~13700k, immediately after the breakout we had a sharp drop back violating my previous support lines.
To be honest I cannot find a clear support range in this chart, the next stop is around @8600 or lower if it does not bounce hard now.
Would a possible explanation be the big Steem Power whales cashing out? But then it begs the question... Why would they cash out at such low prices.
It is all quite mysterious.
One one hand you have this platform that seems to be going from strength to strength.
Then on the other
You have $Steem price that is crashing super hard.
i have order sett from 6-8k.. will be happy if they hit.
Well it is not "that" mysterious,. If I remember correctly the biggest holders promised not to start the power down cycle until March, after recent hardfork the cycle the complete power down was reduced from 104 weeks down to 13 weeks. This 13 week cycle for people that started powering down after the change will finish soonish. People with a lot of Steem to power down might had been afraid that the biggest holders would start dumping in March, so they decided to dump their load before them and it created a downward pressure on the price.
I have been powering up non stop, I will continue at these prices as well. IMO, great buy prices rn. If you have been waiting for a while to get in, an opportunity may be arising in coming hours/days.
Well i got in from 22k.. so kicking myself i did not wait longer and bought twice as much. So as the Steem just sits on Polo. It is probably a good idea to transfer it to wallet then "power up" correct? (If like me and many others, you see a bright future ahead for this platform).
Also what figure would be considered "Whale" amount.
Many thanks.
Yes, I would transfer your coins to your wallet if they are still on an exchange. The more you power up, the more you will earn in rewards on the platform. "Whale" not sure brother, many people define that differently.
Thank you Johal. Do you know of any links that give a good guide on the rewards a user can earn by having steempwoer.
Steempower acts like staking, yes? The more steempower a person has the more rewards they will get?
Thank you for your replies, helpful to a newbie like me.
I think you should join us on www.steemspeak.com , follow the instructions and download the discord application to you PC. You can find many people there to answer your questions and help you!