$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #218, May. 20 2017.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - May. 18, 2017
4 hour Poloniex chart - May. 20, 2017
1 day Poloniex chart - May. 18, 2017
1 day Poloniex chart - May. 20, 2017
After the price dipped a little bellow the 48k satoshi support line, it changed the direction starting to go up again as it entered the 19th of May.
During the 19th it was traded up to 55k and then towards the end of the day shot up to the 59.3k resistance line.
Entering today's day it broke the resistance and went up to the next one at 65k satoshi.
It then had a short and small retrace back down to the 59.3k line and turned up once again making a new higher local high today at 67k satoshi, just a bit above the resistance line.
After making the 67k local high it started going down, dipping to 58.3k satoshi and being traded around 60k satoshi since.
BITTREX
4 hour Bittrex chart - May. 18, 2017
4 hour Bittrex chart - May. 20, 2017
Bittrex again alike action, no real difference, just a few satoshi at spikes and points of highs and lows again.
No fat fingers like on the 12th of May.
VOLUME COMPARISON
STEEM/BTC volume Bittrex May. 18, 2017
STEEM/BTC volume Bittrex May. 20, 2017
STEEM/BTC volume Poloniex May. 18, 2017
STEEM/BTC volume Poloniex May. 20, 2017
STEEM indexed global volume May. 18, 2017
STEEM indexed global volume May. 20, 2017
Coinmarketcap top volume cryptos May. 18, 2017
Coinmarketcap top volume cryptos May. 20, 2017
Overall volume about 47% higher then on May 15, $STEEM on 17th place on the volume rankings.
Poloniex volume about 31% higher then on May 15, ~3166 BTC.
Bittrex volume about 25% higher then on May 15, ~706 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
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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.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ
COMMENT
Depending on how the situation in the area between the 59.3k and 65k lines plays out, I see the price either going towards the 55k level (where there is a fib line and also acted as a resistance/support area in the past) or towards new highs with the first resistance being at around 71k satoshi.
New heights ;)
Up up up! :D
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great...
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