$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #17 "Go with the flow!" Aug 16, 2016
Hello Steemers!
It seems we have entered another accumulation zone, weak price moves, volume kind off low but static in the last 2 days.
POLONIEX
4 hour Poloniex chart - Aug 15, 2016
4 hour Poloniex chart - Aug 16, 2016
Nothing big really happened, after the price was pushed down from the first resistance line to the fist support line (previous swing high/low lines),the price slowly went up to the resistance point again and was gently pushed back down.
BITTREX
4 hour Bittrex chart - Aug 15, 2016
4 hour Bittrex chart - Aug 16, 2016
The price traded between the same narrow lines as yesterday, nearly no change at all.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 15, 2016
STEEM/BTC volume Bittrex Aug 16, 2016
STEEM/BTC volume Poloniex Aug 15, 2016
STEEM/BTC volume Poloniex Aug 16, 2016
STEEM indexed global volume Aug 15, 2016
STEEM indexed global volume Aug 16, 2016
Coinmarketcap top volume cryptos Aug 15, 2016
Coinmarketcap top volume cryptos Aug 16, 2016
The volume is a little bit bigger then yesterday, but nothing significant.
It seems the volume is a swell flagging out.
Again low volume in comparison to the history but still in the top list of cryptos.
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 :)
Great report!
I really think were at a low.
Were averaging 2200 new users per day.. At this rate we will be at 100k users in 2 weeks..
COMMENT
The price and the volume both seem to be flagging out, which would indicate that we entered another accumulation zone as the price is getting ready for further moves.
As there was no real push from either the buy or the sell side it is ye unclear if the trend reversed or not,
but as this is another accumulation area, some trades here, depending on your overall targets, could be a good move in preparation for the near future.
Hopefully the prices rise again
thanks a lot, for your information
i like to see the volume like this level off. I think the volatility dropping is good after this down trend. I am waiting in the wings for another day or two to see what it does. Thanks for the report......
There are no technical analysis that could save STEEM from @dantheman and @smooth.
The platform would need significant numbers to join and much more trade volume for the price to rise. The 100% inflation seems a lot but it helps to dilute and spread the wealth of early adopters whether that is a good call or bad only time will tell. Whatever the value of the currency doesn't matter as long as it stabilises. What we could do with in or outside of Steem is a measurement of value that does not fluctuate like Celsius meters seconds.
Based on a recent post by @lukestokes here, the ratio of withdrawals to deposits last week was over 3:1. What are your thoughts on this and how it's impacting the price of steem? To be honest, I'm surprised the price has held up as well as it has.
A couple weeks ago Coindesk had an article touting how the STEEM market cap was inflated. I couldn't disagree at the time, but market forces did provide a correction of sorts. Definitely agree that this is a good accumulation time though.
Hey Oz, good to see you updating regularly. I wouldnt be surprised if we head down to test .02 over the next week or so but either way I'll be ready.
thank you for your steem daily analysis, good analysis
still have hold position buy on 0.0026
i hope you post another coin analysis too
earn some profit following your analysis..
regard
a useful post for me
thanks @ozchartart
Nice ;) thank you again!