$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #217, May. 18 2017.

4 days ago
75 in steem

Hello Steemers!

POLONIEX


4 hour Poloniex chart - May. 15, 2017


4 hour Poloniex chart - May. 18, 2017


1 day Poloniex chart - May. 15, 2017


1 day Poloniex chart - May. 18, 2017

After the runup to 60k satoshi the price had a pullback down to 50k and then climbed up to 59k satoshi, on the 16th of May, after which came a dump down to 42k satoshi where the price marked an higher local low.
On May the 17th the price traded mostly between the 48k and the 43.5k lines and started going up again as 18th of May begun.
Today the price traded in up trend reaching 56k satoshi and then going down to the 48k support line where it once again, for now, marked a higher local low. At the moment being traded around 48k satoshi.

BITTREX


4 hour Bittrex chart - May. 15, 2017


4 hour Bittrex chart - May. 18, 2017

Bittrex had the same action as poloniex with slight differences of few satoshis in high and low points of the price, thanks to some lines pulled way back it is easy to see on the Bittrex chart how the price was mostly kept within the range of 45k and 53k satoshi.

VOLUME COMPARISON


STEEM/BTC volume Bittrex May. 15, 2017


STEEM/BTC volume Bittrex May. 18, 2017


STEEM/BTC volume Poloniex May. 15, 2017


STEEM/BTC volume Poloniex May. 18, 2017


STEEM indexed global volume May. 15, 2017


STEEM indexed global volume May. 18, 2017


Coinmarketcap top volume cryptos May. 15, 2017


Coinmarketcap top volume cryptos May. 18, 2017

Overall volume about 36% lower then on May 15, $STEEM on 17th place on the volume rankings.
Poloniex volume about 44% lower then on May 15, ~2412 BTC.
Bittrex volume about 12% lower then on May 15, ~565 BTC.

Although the volume has dropped a bit and STEEM fallen to the 17th place on the volume rankings, it's still very activly traded and has great steady-growing volume.

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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Sort Order:  trending
66
  ·  4 days ago

The price action on the daily chart confirmed another bull flag pattern earlier in the week, this is the 3rd one in roughly a month.

The price action is positive on the larger time frame which is of importance. We need to continue to consolidate above .40 and preferably push higher to maintain the positive tone.

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36
  ·  4 days ago

The DXY is a huge HEAD AND SHOULDERS formation with projection to about 95 according to my pattern rules.

Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers

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29
  ·  4 days ago

Loving me some STEEMIT

68
  ·  4 days ago

COMMENT

During the past 3 days the price seems to be settling around the 48k line, at the moment being traded just a little bit above it.
if the 48k satoshi line holds as support I would expect the price to go up to 60k satoshi in try for a break upwards with new potential resistance at 65k and 70k satoshi.
If the 48k level fails to hold I see STEEM meeting next support at around ~43.7k satoshi, with the next one in my opinion being around the 40k level.

70
  ·  4 days ago

I am glad you are back my friend.

I hope you have a great first week back and by the looks of it with your last couple posts or so, you are.

Thanks for always being kind to me and answering my questions etc.

Your friend Barry

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68
  ·  4 days ago

Thanks for the warm welcome back!!

np, just reach out to me if u need me ;)

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70
  ·  3 days ago

I will always stay the course and remind people of this about you like I have many times.

You are good people.

Hey I hit 1k followers last nite if you get time to stop by the page today!!

Have a good weekend Oz.

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68
  ·  3 days ago

gz on the milestone!
will stop by soonish ;)

64
  ·  4 days ago

Congratulations @ozchartart!
Your post was mentioned in my hit parade in the following categories:

  • Upvotes - Ranked 6 with 443 upvotes
  • Pending payout - Ranked 4 with $ 383,17
36
  ·  4 days ago

The DXY is a huge HEAD AND SHOULDERS formation with projection to about 95 according to my pattern rules.

Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers

67
  ·  4 days ago

Steem is brewing some serious action on a buzz level, these charts are great to see nice you are posting again. Steemit is the place for all crypto information.

76
  ·  4 days ago

ok my friend. now go away for another 6 month and come back when steem reaches 5$

45
  ·  4 days ago

Great information. New to crypto and working hard to understand this market. You have my thanks and a follow.

36
  ·  4 days ago

Very informative ! Thanks for your The info. How would recommend to start analysis of the markets?

·
68
  ·  3 days ago

if you have no experience I would recommend to start at http://www.babypips.com/, they offer very good ground material

40
  ·  4 days ago

Vote for me, please.

66
  ·  4 days ago

Welcome back.

38
  ·  4 days ago

In my opinion Bitcoin will fail. Can you trust a currency that is reliant on vulnerable technology?? With the creation of a number of new competing cryptocurrencies being developed and eventually diluting the market. If a cyber attack occurred would your Bitcoin be safe. Would you intrust thousands of dollars to the system? How long before Government infiltrate this technology and causes it to fail? Why would Government do that? Because central banks will not tolerate a currency that they do not have complete control over, thats why. If they cause a failure in the system, then people will lose confidence in them, unless of course the federal government comes to the rescue and offers to insure the currency FDICA baby. Look what they did to Precious metals. The feds found a way to manipulate it and fix it. The banks simply print and sell enough paper contracts to dilute the market. Some say that there are up to 200 hundred paper contracts per ounce of gold. The silver and gold markets are easily moved by the simple push of a computer key. They must regulate it in order to keep the value of the dollar intact. The same is true with cryto. If they let the market run, paper currencies would diminish in value. Is it possible that the cryptocurrency was ordained by the central banks as a trail to see if people would buy into this type of monetary system? But for now enjoy the wealth it has created, just don't think they will let the party continue.

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35
  ·  3 days ago

I feel like the manipulation of metals via paper contracts is not going to last forever. If you look at the history, the paper manipulation is a blip. The physical markets will eventually prevail because the Chinese are buying physical metals and will votive to do so. This is why physical inventories are apparently down.

52
  ·  4 days ago

Good news for steem growth

64
  ·  4 days ago

nice post to be the top trending! I did upvote but... I saw your last posts were months ago minus 3. Where were you when steem was 7 cents. We could have used you well then!

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68
  ·  4 days ago

Hey! Yes, I was away, sorry for that! I had some personal as well as business stuff to sort out which took away most of my time

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64
  ·  3 days ago

Welcome back

57
  ·  4 days ago

with Polo in Coma, is this chart right?Lost my precious 18 SBD on polo.....Sadface

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68
  ·  4 days ago

the chart is based on executed trades, so should be always right

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57
  ·  4 days ago

Oh,that's nice of Polo......Keeping some part of it's body away while in Coma.

48
  ·  4 days ago

Oh wow daaaang!!! We doing real good!!! Can't wait to continue to see us grow!!!

54
  ·  4 days ago

So much has happened even when you look at the last 48 hours alone, crypto is blowing up my friend! Good post and welcome back!

45
  ·  4 days ago

Still a good price to buy in!

69
  ·  4 days ago

I would love for steem to churn just above that first resistance for a while. Build a strong floor before testing 60K sat.

47
  ·  4 days ago

Thanks for the charts and welcome back

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68
  ·  4 days ago

No problem, and thank you very much :)

40
  ·  3 days ago

it almost impossible to make a transaction on poloniex when i use my phone. it takes waaaay to long...