$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #85, "Is depression starting to kick in?" Oct. 25, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 24, 2016
4 hour Poloniex chart - Oct. 25, 2016
1 day Poloniex chart - Oct. 24, 2016
1 day Poloniex chart - Oct. 25, 2016
After yesterdays bounce got pulled back the price went down again making another all time low, this time stopping at the 0.000271 BTC point.
BITTREX
4 hour Bittrex chart - Oct. 24, 2016
4 hour Bittrex chart - Oct. 25, 2016
The Bittrex price went a bit further down the Poloniex making its new local low at 0.00026606 BTC. At the moment it is traded slightly above the 0.00027 support line.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 24, 2016
*STEEM/BTC volume Bittrex Oct. 25, 2016
STEEM/BTC volume Poloniex Oct. 24, 2016
STEEM/BTC volume Poloniex Oct. 25, 2016
STEEM indexed global volume Oct. 24, 2016
STEEM indexed global volume Oct. 25, 2016
Coinmarketcap top volume cryptos Oct. 24, 2016
Coinmarketcap top volume cryptos Oct. 25, 2016
Overall volume about 37% lower then yesterday, $STEEM on 30th place on the volume rankings.
Poloniex volume about 29% lower then yesterday, ~56 BTC.
Bittrex volume about 9% lower then yesterday, ~32 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 went even lower, nearly touching the 0.00027 local low from Bittrex (on Bittrex it even spiked slightly below it), which could act as a possible resistance line, after which comes the 0.00025 line which is the all the time from Bittrex which is the last historical support. If that breaks the price could start looking for new bouncing ground and possibly pick up in volatility.
Fundamentally, there is no reason for steem to have any value, and with 1-2% daily inflation lol
Steem will work just fine at .001
Just wait until close to 10:1 reverse split in 2.5yrs and then buy steem
Grrrr! The price, I thought, had reached rock bottom, but I guess there's room for more downward trending... Thanks for the info once again, namaste :)
I think it's going to keep going down until outsiders find worth in it or there is some serious hype generated about Steemit. Probs round about 0.0001300 ish
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Hard to stay optimistic at this point. The voting system sucks. The developers have crashed the price.
Thanks for the newest info.