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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #64, "Ooooh where do we go now" Oct. 04, 2016.
COMMENT
The price has violated the swing low and went down to the ~0.00071 support making a double bottom here.
A bounce is still in play but a chance of another drop has slightly increased. I'm still in more favor for the bounce, as long as the price holds the all time low from Poloniex.
In case of a downtrend scenario I would expect :
Support to build around the support levels from Bittrex (which in the past has seen lower prices and has more history). ~0.00065 being the first support level I can see, which would also be my target for a trade.
We went through the September 21 low.
yea :( quite a heavy dump,,,,
It is trying to decide if it wants to hold below or above the September 21 low.
Here's to you being right! I layered in a few orders at these levels, not really expecting more than maybe the first two to trigger. BAM BAM BAM, down to one more layer. I wouldn't mind picking it up, but I wouldn't mind the bears hibernating for a bit now either. :)
Love your analysis. I am holding strong and buying these dumps believe it or not. I believe in this platform long term. We are pioneering something special here. Thats just my opinion.