$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #15 "Is there light at the end of the tunnel" Aug 14, 2016
Hello Steemers!
Update number 15! I must say I really enjoy it so far and have to admit I also learned a thing or two (thanks everyone!). Hope everyone else is enjoying the daily updates as well! Thanks for all the support, comments and critics and suggestions!
Finally some green action on the $STEEM chart, so with everyone excited let's get on with the TA!
POLONIEX
4 hour Poloniex chart - Aug 13, 2016
4 hour Poloniex chart - Aug 14, 2016
After making a new all time low yesterday the price started bouncing up again with some solid pressure upwards.
It bursted through the top of the swing low and backed down to it where its still sitting.
BITTREX
4 hour Bittrex chart - Aug 13, 2016
4 hour Bittrex chart - Aug 14, 2016
After making a new local low yesterday, the price bounced back up, shooting through the first resistance line and now sitting on the second.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 13, 2016
STEEM/BTC volume Bittrex Aug 14, 2016
STEEM/BTC volume Poloniex Aug 13, 2016
STEEM/BTC volume Poloniex Aug 14, 2016
STEEM indexed global volume Aug 13, 2016
STEEM indexed global volume Aug 14, 2016
Coinmarketcap top volume cryptos Aug 13, 2016
Coinmarketcap top volume cryptos Aug 14, 2016
The Bittrex volume went a bit down while the Poloniex volume gained a tiny boost, showing once again whose the boss.
Overall there is not much change in volume compared to yesterday.
Still within the top cryptos, we can expect allot of volume once the real action starts.
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?
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.
Kind Regards, OZ :)
COMMENT
Not much change in volume and a bounce with steady uptrend indicates a possible start of the major trend reversal, might be a bit to early to tell that, but if we didn't hit the bottom and reversed to uptrend we entered another area of accumulation . In case of steady or rising volume with next few days positive I would say the trend reversal has started, while in case of some harder kicks down from the previous support line (~0.0032BTC) which should now act as a resistance I expect massive accumulation in this zone.
chances are it will happen
This is a "decision point" in the Steem market, IMO.
Price is at the intersection of an up-trend and down-trend line. Plenty of horizontal support (horizontal green lines on chart) below the price.
A red candle from here suggests to me a likely test of the lowest horizontal support, which would make a strong level for investment into Steem (buy on Fear!)
agreed, we are on a critical point now
Oh, so nice! New day new stats! thank you!
no problemo, always :)!
I sure do :) Keep them coming!!!
Glad to hear!:D will do!
ill be wrong but steem is going to 0.70 cents and then will be around 0.20 0.005 cents, I dont see any future for steem to be honest. with the higher inflation you know that this ship is sinking for the guys with lower steem power, this is merely for the rich. I hope I am 100% wrong, but time will tell
Hopefully the downtrend is over, one never knows in crypto, tho! I enjoy your posts, @ozchartart, hopefully you can continue to post good news. Cheers!
I'll give my best to do so, thank you for the support!
nice post
thank you for information @ozchartart
Thanks! no problem , glad u keep following :)
Nice. Hope steem would rise back uppwoards. But coul be cheaper so that i could buy more power :)
i see not everyone is scared of the low prices ;)
Thanks @ ozchartart for the Daily Technical Analysis, I am slowly stocking up my SP
no problem, thanks for the comment!
I hope to occur reversal of trend and an appreciation of steemit. I believe that the real potential of both the currency and the platform is not valued as it should.