$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #83, "full retrace done" Oct. 23, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 22, 2016
4 hour Poloniex chart - Oct. 23, 2016
1 day Poloniex chart - Oct. 22, 2016
1 day Poloniex chart - Oct. 23, 2016
Today the price has made a sharp dip downwards making a new all time low at 0.00030137 BTC. At the moment it is traded slightly above the today made all time low, 0.00031^.
BITTREX
4 hour Bittrex chart - Oct. 22, 2016
4 hour Bittrex chart - Oct. 23, 2016
The Bittrex price also had a sharp dump today, making a new local low at a few satoshi lower then Poloniex, 0.00030001 BTC. At the moment it is traded slightly bellow 0.00031.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 22, 2016
STEEM/BTC volume Bittrex Oct. 23, 2016
STEEM/BTC volume Poloniex Oct. 22, 2016
STEEM/BTC volume Poloniex Oct. 23, 2016
STEEM indexed global volume Oct. 22, 2016
STEEM indexed global volume Oct. 23, 2016
Coinmarketcap top volume cryptos Oct. 22, 2016
Coinmarketcap top volume cryptos Oct. 23, 2016
Overall volume about 1% lower then yesterday, $STEEM on 18th place on the volume rankings.
Poloniex volume about 20% lower then yesterday, ~80 BTC.
Bittrex volume about 46% higher then yesterday, ~38 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
The price seems to be in the last push downwards, expecting a spike bellow 30k sat, that might mark the end of the downtrend as it is an complete done reversal.
Looking to see the start of the uptrend within a day or 2.
Still 2 possible supports i see if it breaks the 0.00029, and that are the 0.00027 and 0.00025, but this shouldn't go any lower then 0.00029 imho.
Still below the trend line drawn from the September 24 peak.
I don't think charts tell us much when the supply is constantly changing... There is significantly more supply at this price than there was pre moon-shot...
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I look at it this way. At these prices I'm placing a bet that gives me 20 to 1 odds. The price can potentially go to zero or it can potentially reach it's all time highs again. I'll take 20 to 1 on anything I remotely believe in. Will buy some more if we breach .00020....only invest what you are willing to lose. Just my opinions.
You will lose that bet
Do you think steem is worth more yhan 50m yhan yes. Else no.