$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #86, "down into undiscovered depths" Oct. 26, 2016.

in steem •  2 years ago

Hello Steemers!

POLONIEX


4 hour Poloniex chart - Oct. 25, 2016


4 hour Poloniex chart - Oct. 26, 2016


1 day Poloniex chart - Oct. 25, 2016


1 day Poloniex chart - Oct. 26, 2016
Today the price made a quite heavy move down compared to what it has done in the past week or 2, making a new all time low at 0.00021341 where it seems to have slowed the dump and is been trading there for about 6 hours.

BITTREX


4 hour Bittrex chart - Oct. 25, 2016


4 hour Bittrex chart - Oct. 26, 2016
The Bittrex price went down to the ~0.000215 price level where it stopped dropping for a while, but then
peaked a local low at 0.00021085, just a few satoshi lower then Poloniex. At the moment it got pulled back up to the 0.000215 level.

VOLUME COMPARISON


STEEM/BTC volume Bittrex Oct. 25, 2016


STEEM/BTC volume Bittrex Oct. 26, 2016


STEEM/BTC volume Poloniex Oct. 25, 2016


STEEM/BTC volume Poloniex Oct. 26, 2016


STEEM indexed global volume Oct. 25, 2016


STEEM indexed global volume Oct. 26, 2016



Coinmarketcap top volume cryptos Oct. 25, 2016



Coinmarketcap top volume cryptos Oct. 26, 2016
Overall volume about 27% higher then yesterday, $STEEM on 26th place on the volume rankings.
Poloniex volume about 56% higher then yesterday, ~87 BTC.
Bittrex volume about same then yesterday, ~32 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.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
Please post the links to your TA's posts into the comments as well!

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 :)

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Is anyone genuinely following any of these posts? Here's a fun, entirely objective.. exercise, go back and look at how many times the author has talked about 'all time lows', 'time for a pump' .. etc etc... you'd be better off flipping a coin.

The fact that this horrific technical analysis still gets rewarded is beyond me...

Oh and your permabull has started powering down ... please don't equate rewards with quality.

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I took you up on your objective challenge and did a search for the word 'pump' all the way back to early October (circa the 3rd or 4th -- I didn't bother going back to much further).

I only found two posts that state 'pump' in the comments section and nothing once in the main analysis. That's 1 in 10 and not a coinflip, unless you are providing me with a biased coin.

In fact, the word pump hasn't been used by the author or commentators for 2 weeks until you brought it up.

Here's the 2 posts that I found that use the 'p word' -- both in comments that essentially say, "Let's hope the price moves back up soon." If that is an opinion, I'm pretty sure most would agree with that sentiment, unless you are a speculator and want lower levels for long term accumulation.

https://steemit.com/steem/@ozchartart/usdsteem-btc-daily-poloniex-bittrex-technical-analysis-market-report-update-70-when-losers-say-it-s-over-with-you-know-that-it-s

https://steemit.com/steem/@ozchartart/usdsteem-btc-daily-poloniex-bittrex-technical-analysis-market-report-update-67-if-you-give-this-trend-a-ride-oct-07-2016

As for the author powering down, you have no idea why he's doing so; maybe he has bills to pay or thinks short term bitcoin price is moving up further than the percentage change in STEEM moving down. And what about the author diversifying his assets? That's intelligent investment / speculation decisions.

I will admit that I didn't bother searching for 'low', mainly because it's easy to see how that word could be used often in any objective analysis, i.e. observation shows that we've been on a continuous downtrend.

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COMMENT

Seems like we are in a discovery of a new all time low.
We could end very low, but also start bouncing at any point since we don't have a historical support or resistance as we go down.

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fml

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no real consequence for powering down = no real consequence for selling into new lows.

power-down should result in decreased voting power and/or decreased interest gained on SP

otherwise, the system is an inefficient engine, leaking power into the atmosphere

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The power down does result in decreased voting power because your vests reduce each time you power down. The only way to increase the vests back to what they were is to earn steempower through writing or curating or both.

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But its not a tangible consequence, plus the amount you lose each week is barely noticeable in terms of voting power decreases. Also, despite the power downs, the SP gained per second continues ticking away, so amount lost is even more negligible.

Lowering some more hey?!? Well, I'm in for the long-run and cross my fingers, legs and all extremities for this one to gain back of its financial worth. thanks again for the post and analysis. Namaste :)

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In one word: Hyperinflation

I dunno. Is this seriously that in today's economy is worth 77$?! come on, EVERY DAY!? that's not even an analysis and even ifm, what is to say..DAILY?
The only reason for daily posting is because:

  1. it\s easy.
  2. it's making money for ozchartart.
    Of course, it's a free economy, but part of the reason the charts look like that is that a shitton of reward goes to this post who literally no one cares about but 10 people who happen to be whales.
    Oh well...