$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #65, "Oblivion?" Oct. 05, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 04, 2016
4 hour Poloniex chart - Oct. 05, 2016
1 day Poloniex chart - Oct. 04, 2016
1 day Poloniex chart - Oct. 05, 2016
Shortly after posting yesterdays update the price dumped down to the ~0.00065 level where Bittrex had an earlier support level. After hitting that level, the price tried to go even lower but made a small bounce instead.
Now it's trading slightly above the new all time low ~0.00068.
BITTREX
4 hour Bittrex chart - Oct. 04, 2016
4 hour Bittrex chart - Oct. 05, 2016
The Bittrex price sumped down to the ~0.00065 support level making a small bounce and dumping even harder in the last few hours, down to ~0.00061, but got pulled back up to the ~0.00065 level where it is traded now.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 04, 2016
STEEM/BTC volume Bittrex Oct. 05, 2016
STEEM/BTC volume Poloniex Oct. 04, 2016
STEEM/BTC volume Poloniex Oct. 05, 2016
STEEM indexed global volume Oct. 04, 2016
STEEM indexed global volume Oct. 05, 2016
Coinmarketcap top volume cryptos Oct. 04, 2016
Coinmarketcap top volume cryptos Oct. 05, 2016
Overall volume about 90% higher then yesterday, $STEEM on 16th place on the volume rankings.
Poloniex volume about 128% higher then yesterday, ~244 BTC.
Bittrex volume about 10% lower then yesterday, ~39 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
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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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COMMENT
Very cheap, really dunno what that uptrend is waiting for,
Potential downtrend targets:
~0.0006 and ~0.00055-53
On the uptrend targets I'd first like to see the 0.0007 being broken, and a touch to ~0.00078.
Could it be waiting for whales to stop powering down?
Should other users follow lead of whales and start doing diversification?
I am looking at this channel. Looks like that is the likely direction (down).
We need some demand... and fast... it is looking like it wants to go lower to me...
Or less supply
Yea, but that doesn't seem like a realistic option at this point unfortunately
IMHO, the true value of Steem is in the mind of whales, and will be revealed at whatever point they stop powering down.
By the way, I'm not throwing stones. I understand that some liquidity must be extracted to fund growth. Hopefully little is being extracted to fund lifestyle.
One word.
BUY!!!!
So cheap steem now
More cheaper and cheaper... Will it be for all time like that?
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